Australia to propose tax incentives for critical minerals
The proposed law will set up a tax incentive worth 10% of relevant processing and refining costs for 31 critical minerals.
Australia’s new federal environment minister is preparing to review Shree Minerals’ (ASX:SHH) planned iron ore mine in Tasmania’s Tarkine region this week, Australian Mining reports.
The company’s planned iron-ore mine was rejected by the federal court earlier this month, overturning former environmental minister Tony Burke’s approval of the project.
The main issue with mine development is how it will affect the tasmanian devil – an endangered animal that has been nearly wiped-out by the incurable devil facial tumor disease.
Mark Butler, the new minister, will meet with environmentalist group Save the Tarkine – the organization that won legal action to halt the project last month. Butler will file his decision by Friday.
The group is also mounting a campaign against another miner, Venture Minerals (ASX:VMS), for much the same reasons.
Creative Commons image by: Nina K’s Photos
