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Mineral Resource Rent Tax
The Minerals Resource Rent Tax (MRRT) was a resource rent tax formerly Taxation in Australia, imposed by the government of Australia on profits generated from the mining of non-renewable resources in Australia. It was a replacement for the proposed Resource Super Profit Tax (RSPT). The tax, levied on 30% of the "super profits" from the mining of iron ore and coal in Australia, was introduced on 1 July 2012. A company was to pay the tax when its annual profits reach $75 million, a measure designed so as not to burden small business. The original threshold was to be $50 million until independent MP Andrew Wilkie negotiated an amendment. Around 320 companies would have potentially been affected by the changes. The Coalition (Australia), Coalition, led by Tony Abbott, went to the 2010 Australian federal election, 2010 and 2013 Australian federal election, 2013 elections promising to repeal the tax. The Coalition won the 2013 election, and repealed the tax in 2014. A January 2014 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resource Rent Tax
A resource rent tax is a tax on the Resource rent, rents gained on the exploitation of a resource. It can cover both renewable and non-renewable resources. It is classically understood to be a tax on the surplus value generated by Exploitation of natural resources, resource exploitation beyond the necessary costs of production (which includes rewards to capital). An investor enjoys relief from taxation until a certain rate of return has been achieved, at which point profits are shared with the host government. Resource rent taxes are particularly prevalent in mining and petroleum industries. Australia's Minerals Resource Rent Tax covers rents in the mining industry. Norway introduced a resource rent tax on aquaculture (''i.e.'', Aquaculture of salmonids, salmon and trout farming) in 2023, and resource rent tax on onshore Wind energy in Norway, wind energy effective January 1, 2024. In Iceland, a resource rent tax has been placed on fishing industry profits. In Switzerland, there is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Extractivism
Extractivism is the removal of natural resources particularly for export with minimal processing. This economic model is common throughout the Global South and the Arctic region, but also happens in some sacrifice zones in the Global North in European extractivism. The concept was coined in Portuguese as "extractivismo" in 1996 to describe the for-profit exploitation of forest resources in Brazil. Many actors are involved in the process of extractivism. These mainly include Multinational corporation, transnational corporations (TNCs) as the main players, but are not limited to them, because they also include the government and some (chiefly economic) community members. Trends have demonstrated that countries do not often extract their own resources; extraction is often led from abroad. Extractivism is controversial because it exists at the intersection where economic growth and environmental protection meet. This intersection is known as the green economy. Extractivism has evolve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrew Forrest
John Andrew Henry Forrest (born 18 November 1961), nicknamed Twiggy, is an Australian businessman. He is best known as the former CEO (and current non-executive chairman) of Fortescue Metals Group (FMG), and has other interests in the mining industry and in cattle stations. With an assessed net worth of 33.29 billion according to the '' Financial Review'' 2023 Rich List, Forrest was ranked as the second richest Australian. The ''Financial Review'' named him the richest person in Australia in 2008. In 2013, Andrew and Nicola Forrest, his wife, were the first Australian billionaires to pledge the majority of their wealth to charity. He had earlier stepped down as CEO of Fortescue Metals in 2011. Much of the Forrest's philanthropy has been through either the Minderoo Foundation (focusing on education and Indigenous Australians) or the Walk Free Foundation (focusing on ending modern slavery), both of which he established. Forrest has been accused of avoiding paying com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hancock Prospecting
Hancock Prospecting Pty Ltd is an Australian-owned mining and agricultural business run by Executive Chairwoman Gina Rinehart and CEO Garry Korte. At various stages of its trading history, the company has been known as Hancock Prospecting Ltd, Hancock Resources Ltd, Hanwright Pty Ltd, Hancock & Wright Ltd, and Hancock Prospecting Pty Ltd. Hancock Prospecting Pty Ltd is owned by Rinehart (76.6%) and the Hope Margaret Hancock Trust (23.4%). The company was founded in 1955 by Rinehart's father, the late Lang Hancock. Hancock Prospecting holds the mineral rights to some of the largest Crown land leases in the Pilbara region of Western Australia. Gina Rinehart has disputed accusations that she is an heiress. Through Rinehart's spokesperson and chief financial officer at Hancock Prospecting, Jay Newby, Rinehart has claimed that upon assuming the role of the Executive Chairwoman, she took over a company that was in a perilous financial position with significant debt and major asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Xstrata
Xstrata plc was an Anglo-Swiss Multinational corporation, multinational mining company headquartered in Zug, Switzerland and with its registered office in London, United Kingdom. It was a major producer of coal (and the world's largest exporter of thermal coal), copper, nickel, primary vanadium and zinc and the world's largest producer of ferrochrome. It had operations in 19 countries across Africa, Asia, Australasia, Europe, North America and South America. Xstrata had a primary listing on the London Stock Exchange and was a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £29 billion as of 23 December 2011, making it the 16th-largest company on the London Stock Exchange. It had a secondary listing on the SIX Swiss Exchange. In the 2013 Forbes Global 2000, Xstrata was ranked as the 202nd largest public company in the world. On 2 May 2013 Xstrata was acquired by Glencore. Glencore later retired the Xstrata brand, and the company name change ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fortescue Metals Group
Fortescue is a global metal mining company headquartered in Australia. Fortescue focused on iron ore mining under the name of Fortescue Metals Group (FMG) until July 2023. As of 2017, Fortescue is the fourth-largest iron ore producer in the world. The company has holdings of more than in the Pilbara region of Western Australia, making it the largest tenement holder in the state, larger than both BHP and Rio Tinto. Governance Andrew Forrest is Executive Chairman and owns a third of the company. Dino Otranto is the CEO of Fortescue's Metals division (Aug 2023–), and Mark Hutchinson is the CEO of the Energy division. Former Chief Executive Elizabeth Gaines is now global brand ambassador. Mining projects The group has two main areas of operation located within the Pilbara region of Western Australia, the Chichester Hub and Solomon Hub. Plans to develop a third, Western Hub were as of 2017 in developmental stage. In 2017 Fortescue started exploration of possible mining ten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rio Tinto (corporation)
Rio Tinto Group is a British-Australian multinational company that is the world's second largest metals and mining corporation (behind BHP). It was founded in 1873 when a group of investors purchased a Rio Tinto Company Limited, mine complex on the Rio Tinto (river), Río Tinto, in Province of Huelva, Huelva, Spain, from the Spanish government. It has grown through a long series of mergers and acquisitions. Although primarily focused on extraction of minerals, it also has significant operations in refining, particularly the refining of bauxite and iron ore. It has joint head offices in London, England and Melbourne, Australia.Suburbs & Postcodes " City of Melbourne. Retrieved 5 April 2010. Rio Tinto is a dual-listed company traded on both the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Greens
The Australian Greens, commonly referred to simply as the Greens, are a Left-wing politics, left-wing green party, green Australian List of political parties in Australia, political party. As of 2025, the Greens are the third largest political party in Australia by vote and the fourth-largest by elected representation. Following the 2025 Australian federal election, 2025 Australian Federal Election, Larissa Waters serves as Leader of the Greens and Mehreen Faruqi serves as deputy leader. The party was formed in 1992 as a confederation of eight state and territorial parties. In their early years, the party was largely built around the personality of well-known Tasmanian politician Bob Brown, before expanding its representation substantially in the early part of the 21st century. The party cites four core values as its ideology, namely sustainability, ecological sustainability, social justice, grassroots democracy, and peace movement, peace and non-violence. The party's origin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Construction, Forestry, Mining And Energy Union
The Construction, Forestry and Maritime Employees Union (CFMEU) is Australia's largest Trade union, union in the construction, forestry, wikt:maritime, maritime, Textile manufacturing, textile, Clothing industry, clothing and Shoemaking, footwear production industries. The CFMEU has offices in all capital cities in Australia and in many major regional centres with the national office of the union being in Melbourne. Before the 2018 merger, the CFMEU had an estimated 120,000 members and employed around 400 full-time staff and officials. In March 2018, a two-year long process ended resulting in a merger between the old CFMEU, the Maritime Union of Australia and the Textile, Clothing and Footwear Union of Australia. The new CFMEU had a membership of approximately 144,000, 1% of the Australian workforce, with combined assets of $310 million and annual revenue of approximately $146 million. In July 2024, ''The Age'', ''The Sydney Morning Herald'', ''60 Minutes (Australian TV progr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Council Of Trade Unions
The Australian Council of Trade Unions (ACTU), originally the Australasian Council of Trade Unions, is the largest peak body representing workers in Australia. It is a national trade union centre of 46 affiliated trade union, unions and eight trades and labour councils. The ACTU is a member of the International Trade Union Confederation. The President of the ACTU is Michele O'Neil, who was elected on 28 July 2018. The current Secretary is Sally McManus. Objectives The objectives of the ACTU, found in its constitution, are: * the Social ownership, socialisation of industry, * the organisation of wage and salary earners in the Australian workforce (within the trade union movement), * the utilisation of Australian resources to maintain full employment, establish equitable living standards which increase in line with output, and create opportunities for the development of talent. Organisation The ACTU holds a biennial congress that is attended by approximately 800 delegates from a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Electoral Commission
The Australian Electoral Commission (AEC) is the independent statutory agency of the Australian Government responsible for the management and oversight of Australian federal elections, plebiscites, referendums and some trade union A trade union (British English) or labor union (American English), often simply referred to as a union, is an organization of workers whose purpose is to maintain or improve the conditions of their employment, such as attaining better wages ... elections. History The ''Commonwealth Electoral Act 1902'' set up the framework for the Commonwealth electoral system, which was administered until 1916 as a branch of the Department of Home Affairs (1901–16), Department of Home Affairs, by the Department of Home and Territories until 1928, back to Department of Home Affairs (1928–32), Department of Home Affairs to 1932, and then Department of the Interior (1932–39), Department of the Interior until 1972. The Australian Electoral Office was cre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
News
News is information about current events. This may be provided through many different Media (communication), media: word of mouth, printing, Mail, postal systems, broadcasting, Telecommunications, electronic communication, or through the testimony of Witness, observers and witnesses to events. News is sometimes called "hard news" to differentiate it from soft media. Subject matters for news reports include war, government, politics, education, health, economy, business, fashion, sport, entertainment, and the Climate change, environment, as well as quirky or unusual events. Government proclamations, concerning Monarchy, royal ceremonies, laws, taxes, public health, and Crime, criminals, have been dubbed news since ancient times. Technology, Technological and Social change, social developments, often driven by government communication and espionage networks, have increased the speed with which news can spread, as well as influenced its content. Throughout history, people have ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
