Carbon tax could bankrupt Australian zinc & lead
Mon, Nov 17, 2008
Zinc Investing News reports the carbon tax in Australian may bankrupt the zinc and lead miners.
Nyrstar, the countries largest zinc and lead miner, issued a response to the governments proposed taxation scheme. Chief Operating Officer Greg McMillan said modeling prepared for the company showed that the taxation would cost the company $70 million a year, assuming a carbon price of $40 a tonne. “That would completely wipe out profits from our Australian operations,” McMillan added.
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