Rio declares RSPT dead

The head of Rio Tinto in Australia says the mining super profits tax, in its previous form, is dead.

Sam Walsh made the comments at the opening of the company’s new operations centre in Perth.

“I think the tax as it was originally described, is dead, I think what we will see is something that will enable projects to go ahead and I’m very hopeful that will be sooner, rather than later,” he said.

He says he is hopeful the change in prime minister will allow industry and government to make progress on the resource rent tax, and resolve the issue before the next federal election.

“I’m very hopeful that with the recent changes in the structure of the Government that we can actually get in and engage and negotiate,” he added.