Taxing time for miners

RESOURCE heavyweights were hit from pillar to post in a bruising encounter on the Australian Securities Exchange today as the market absorbed the implications of the federal government’s proposed resource rent tax on the mining industry.

The Henry Tax Review's recommendation of a 40% resources super profit tax triggered an early sell-off of the major miners in today’s trade, with the likes of BHP Billiton and Rio Tinto taking some of