\n\tBy Greg Peel<\/p>\n
\n\tIn the ongoing fallout from the Henry tax review and subsequent proposal for a 40% resource super profits tax (RSPT), Australian stockbroker DJ Carmichael has provided advice to its clients.<\/p>\n
\n\tDJC notes the mining companies hardest hit by the RSPT will be those with large, long-life and high profit-margin projects which have already been significantly depreciated over the years. This impacts most heavily on iron ore and coal [and specifically takes in your BHP Billiton ((BHP)) and Rio Tinto ((RIO)) combination].<\/p>\n
\n\tThe flip-side is that projects with short-mine lives and high costs won't be as severely impacted, with relief provided until those assets are fully depreciated over five years.<\/p>\n
\n\tExploration companies would be much better off, DJC notes, given the new resource exploration rebate. However, money still needs to actually be spent on exploration so the rebate will not help if junior miners are struggling to find funding in a commodity price down-cycle.<\/p>\n
\n\tIt is definitely clear that offshore projects will not be subject to the tax. To that end, DJC has compiled a list of Australian mining companies with no exposure to the RSPT on that basis, albeit investors much recognise some value offset for sovereign risk. The list includes only those stocks in DJC's coverage universe on which the analysts have a positive view.<\/p>\n
\n\tAmong the producers, they are: Medusa Mining ((MML)), Perseus Mining ((PRU)), Pan Australian Resources ((PNA)), Equinox Minerals ((EQN)), Paladin Energy ((PDN)), Olympus Pacific ((OYM)), Kingsgate Consolidated ((KCN)), Kingsrose Mining ((KRM)), and NSL Consolidated ((NSL)).<\/p>\n
\n\tAmong the explorers, they are: Hot Chilli ((HCH)), Ampella Mining ((AMX)), Gryphon Minerals ((GRY)), Chessar Resources ((CHZ)), Nkwe Platinum ((NKP)), Wild Horse Energy ((WHE)), and Kasbah Resources ((KAS)).<\/p>\n","protected":false},"excerpt":{"rendered":"
Stockbroker DJ Carmichael lists those Australian listed mining companies it deems to have no exposure to the resource super profits tax.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[23,89,24,88],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56588"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=56588"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56588\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=56588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=56588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=56588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}