Rio Tinto, Australia’s biggest and most profitable miner, says it does not qualify to pay any MRRT for the June quarter, according to The Australian.
Prices were good over the quarter, and the Australian dollar is lower. But according to The Aus, Rio has decided its not liable for mining tax.
Prices averaged a healthy $US125 a tonne over the period, providing Rio with more than 50% margins.
Rio and BHP, according to the report, were expected to be the only miners paying the tax in its early years.
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