Ernst & Young's Elliott Discusses Australia's Mining Tax

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July 5 (Bloomberg) -- Mike Elliott, Sydney-based global mining and metals sector leader for Ernst & Young LLP, speaks with Bloomberg's Susan Li about Australia's planned resources tax. Prime Minister Julia Gillard agreed to cut the planned tax to 30 percent from 40 percent and raise the levy’s trigger level, a week after ousting Kevin Rudd as the nation’s leader to defuse a row that’s damped the government’s election prospects. Elliott also discusses the outlook for the mining industry, and Banpu Pcl's agreement to pay A$2 billion for the 80 percent of Centennial Coal Co. it doesn’t own to take control of thermal and coking coal mines in Australia. (Source: Bloomberg)

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