Rio Tinto says Australia tax impedes mine projects

CANBERRA, May 20 (BestGrowthStock) – Global miner Rio Tinto
(RIO.AX: ) (RIO.L: ) faces a more difficult task to move ahead on
its Australian projects because of Canberra’s planned new tax
on mining profits, a company executive said on Thursday.

David Peever, managing director of Rio Tinto Australia,
made the comment to reporters after leaving a meeting with
treasury officials over the 40 percent tax, which is to start
in 2012.

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(Reporting by James Grubel; editing by Mark Bendeich)

Rio Tinto says Australia tax impedes mine projects