Research and Markets Produces 2014 Fiscal Mining Report
Research and Markets, one of the world’s largest market research stores, has added “Australia’s Mining Fiscal Regime: H1 2014” to their report marketplace. The 22-page report was published in April of this year, and is available for purchase in their online store.
The publication outline several key factors of the Australian mining industry, including information on Australia’s governing bodies and laws and mining rights. The federal and state governments in Australia have different roles and responsibilities in regards to the exploration and development of mining sites; for example, mineral resources are owned by Australia or state/territory governments, not private individuals. This all-encompassing report is beneficial to key and emerging members of the industry for clarification and understanding.
The report further details key fiscal terms, including royalties for individual states, minerals resource rent tax, corporate income tax, capital gains tax, deductions, depreciation, withholding tax, loss carry forward, loss carry back offset and service and goods tax.
Research and Market has tailored the publication to cover Australia’s 11 main commodities, including coal, iron ore, copper, zinc, bauxite, gold, silver, nickel, chromium, manganese and platinum.
Contributors to the report include the Minerals Council of Australia (MCA), which is tasked with representing the country in both national and international markets. Their scope focuses on companies involved with the exploration, mining and processing of minerals. Eighty-five percent of Australia’s annual mineral production is contributed by MCA companies.
The goal of the Department of Industry, established in September of 2013, is to increase the economic prosperity of Australia. They also focus on improving productivity, competitiveness, security and the sustainability of resources in Australia. Geoscience Australia, a government entity, provided geoscientific information for the report.