Sinosteel ‘Concerned’ About Australia Tax Impact, Casello Says
June 13, 2010, 12:37 AM EDTBy Jason Scott
June 13 (Bloomberg) -- Sinosteel Corp., China’s biggest iron ore trader, said it’s “concerned” about the impact Australia’s proposed 40 percent tax on mining profits will have on its projects in the country. “Obviously there’s concern.,” Guilio Casello, chief operating officer of Sinosteel Midwest Corp., told ABC Television today. “The Chinese are very large investors into the region. They invest in obviously not just our project but in a number of projects into the region. They’re still very committed to the region. They understand the potential. They’ll keep looking and see what impact it does to the cashflows.”
To contact the reporter on this story: Jason Scott in Perth at jscott14@bloomberg.net
To contact the editor responsible for this story: Jason Scott at jscott14@bloomberg.net
