Australia to impose 40 pct new tax on mining

Australia to impose 40 pct new tax on mining – Australia’s government angered its booming resources sector on Sunday by unveiling ahe new 40% Resource Super Profits Tax which will hit big miners such as BHP Billiton, (BHP), Rio Tinto (RTP) and Xstrata (XTA.L) and is set to raise about $11 billion in its first two years – Reuters