https://www.engineeringnews.co.za

AUSTRALIAN PROTECTIONISM

17th April 2015

By: Darlene Creamer

  

Font size: - +

Australia’s treasurer has reportedly told business representatives he would not allow Glencore to merge with Rio Tinto over concerns about losing tax revenue. Glencore has since indicated its willingness to close its Singapore sales office and consolidate the business in Australia, amid media reports that the Australian Tax Office is pursuing rival miners BHP Billiton and Rio Tinto for shifting billions of dollars in iron-ore profits through marketing hubs in Singapore. Australia’s treasurer has the final say on any takeovers by foreign companies, based on recommendations from the Foreign Investment Review Board. Although Rio Tinto rebuffed Glencore’s merger approach this year, under UK takeover rules, Glencore is now free to make a new bid following a six-month breather.

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.045 0.765s - 126pq - 2rq
Subscribe Now