Australia: Lu Kewen aka. Kevin Rudd’s Socialist Labor Policies take effect, $600 Million shut down of mining industry

 

 

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Xstrata blames $586m suspension on mining tax

ABC
Updated 1 hour 13 minutes ago
The company says the two projects would have created 3,250 new jobs.

 

                                                                                                                                Lu Kewen, Comrade Garrett, Comrade Swan, Madame Gillard

Mining company Xstrata says it is suspending almost $600 million to develop two Queensland mining projects because of the Federal Government's proposed tax on mining profits.

Xstrata has suspended $586 million for the development of the Wandoan thermal coal project in central Queensland and the extension of the Ernest Henry copper mine in the state's north-west.

The company says the two projects would have created 3,250 new jobs which have now been put at risk.

The Federal Member for Kennedy, Independent Bob Katter, says it is a shattering blow to his electorate.

He says it should be clear to the Government that its mining tax is diabolical for the industry.

"Three thousand two hundred jobs will vanish," Mr Katter said.

"A further 1,000 permanent jobs will also vanish and unfortunately for me a significant proportion of those 1,000 permanent jobs is my own home town of Cloncurry.

"I knew this was coming, I've been desperately afraid and now the evil day has come."

Prime Minister Kevin Rudd says he expected announcements like this.

"I said at the very beginning of this debate ... that there would be ... threats of project closures, there would be projects threatened to be frozen, or frozen," he said.

"This is part and parcel of what will be the normal argy-bargy of a very tense debate.

"No mining company I've met so far has whacked up their hand and said they'd like to pay more tax."

 

Beijing’s highest ranking official in Australia, Australian Prime Minister Lu Kewen aka. “Kevin 07 Rudd” is no doubt pleased with the results so early in his governments campaign to destroy the Australian mining industry and prepare it, for his and his Labor Party’s Beijing based Masters to pick up the pieces for a song.

Australia’s Dear Leader  Lu Kewen

Australian Labor Party’s best friend turns out the lights in Venezuela “Dear President Chávez, We, the undersigned citizens of Australia, would like to extend a warm invitation for you to visit our country…………”

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