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Bowen Says Consultation With Australian Mining Lobby ‘Genuine’

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May 27 (Bloomberg) -- The Australian government is genuine in its discussions with the nation’s mining industry over the proposed tax on resources companies’ ‘super’ profits, Chris Bowen, a minister in Prime Minister Kevin Rudd’s cabinet, said in an interview today with Sky News.

Bowen made the comment in response to a question whether the government is willing to change the level at which the tax kicks in. Australia may raise the lower limit for its proposed tax from 6 percent to 11 percent or 12 percent of company returns, the Australian newspaper reported today.

Bowen declined to say whether the government is prepared to compromise. Treasurer Wayne Swan has said the government has neither ruled in or out a change in the threshold.

Link to Company News:{BHP AU <Equity> CN <GO>} Link to Company News:{RIO LN <Equity> CN <GO>}

To contact the editor responsible for this story: Iain Wilson at iwilson2@bloomberg.net

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