Australia mines minister: Carbon, mineral ‘super’ tax won’t deter investors. India begs to differ
Australia's Minister for Resources, Martin Ferguson, has rejected reports in the Indian press that the carbon tax and mineral resources rent tax will deter foreign investment as it pushes up the price coal imported from Australia.
Australia's controversial carbon pricing scheme passed parliament last week. The laws – fiercely opposed by the country's mining sector which says it will lead to more than 20 mine closures and cost thousands of jobs – will force Australia's top 500 polluting companies to pay a tax of $24.50/tonne on carbon emissions from July 2012.