Mincor Warns of RSPT Ramifications

AUSTRALIA, Jun. 17 -- Mincor Resources has warned that the proposed resource tax will make the development of its newly discovered ore bodies uneconomic. The company is reopening its Miitel nickel mine in Western Australia, with production commencing as early as June 2010. MD David Moore said that the new ore bodies could considerably extend production but the return is reduced to an uneconomic level by the resource tax.