The unfairness lies not in a profit tax but. the …

Comment on New NT tax an absolute disaster, says mining industry by Jones.

The unfairness lies not in a profit tax but. the value-based royalty on their gross mineral production revenue.
Take TNG’s proposed new mine at Mt Peake.
Three year construction period, at least five years of operation to cover costs of construction of $800m.
So for five years and probably more when the company will make no profit it will pay the tax.
So will TNG not be able to get finance for the mine because of this impediment and the NT will lose 300 potential jobs and at least $150m spent on local businesses?

Jones Also Commented

New NT tax an absolute disaster, says mining industry
Shares in Arafura Resources, the miner trying to start a new mine to the north of Alice Springs, dropped 9% today.
The chance of Arafura getting finance for the mine has been all but destroyed by this new royalty.
A lot of small investors, many of them Territorians supporting the NT, will lose their shirts.


Recent Comments by Jones

Warlpiri don’t want Zachary Rolfe murder trial to be in Darwin
Imagine the trial in Alice Springs.
Ned and his Warlipiri followers protesting on a daily basis.
Jury members could feel intimidated.
If convicted we would see appeals based on potential intimidation of the jury.
The trial must be held in Darwin.


Police dogs assist arrests of alleged youth offenders
As annoying as it must be for our police force to work mainly at night, this is when we are seeing the most criminal activity.
Intensifying night patrolling with K9s might just make a big difference to safety in our town.
Worth noting that dogs have much better night time vision than humans.


Old schools, hearing difficulties concerns for COGSO
Excellent that Aboriginal parents and families are concerned about this as we all are.
They can already assist by making their hearing damaged kids wear the hearing aids that have been provided free for the past 20 year in Aboriginal schools.


The elusive goal of deep shade in Alice
The council is replacing trees but not adequately watering the new ones.
If I had not stepped in and watered the 7 new trees in my street they would all be dead by now.
Also, they should be removing all the dead and now dangerous trees in our town.


65 years of history now a pile of rubble
Evelyne perhaps it should be relocated to Darwin?
But you do make the point that the Territory suffers from standard Darwin suited buildings.
The Commission houses here are also cyclone proof Darwin clones with rods tying the roofs to the foundations.
Buildings with heritage values in Central Australia need to be more than clones.
When I think of heritage values here wide shady verandahs and local sandstone come to mind.
A pity so much of our true heritage is gone but surely we are not so desperate that Darwin buildings take its place.


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