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Resource Industry - Incentives to grow or a tax to stifle future?

The carbon tax and mineral resource rent tax puts Australia’s resources industry at risk of being branded a less investment-friendly option. As an industry we can do nothing or unite and dicuss other ways to remain globally competitive.

 
April 2, 2012 - PRLog -- The introduction of the carbon tax and mineral resource rent tax puts Australia’s resources industry at risk of being branded a less investment-friendly option. According to one expert the industry has two choices; Sit back and take it or come together and examine other ways to remain globally competitive.

According to Kerry Stevenson, Managing Director and CEO of Symposium, it is time to unite or risk losing out to more investment-friendly countries.

“As a nation, we must work to keep as globally competitive as possible or risk losing out to those countries whose governments support the resources industry and encourage offshore investment into the sector, “she said. “We have already seen increased investment into Africa and South America whose governments are changing their royalty percentages and improving their information to increase investment. As a result, Australian geologists are finding new deposits and creating new mines and jobs in these countries instead of using the resources we have at our own front door. We cannot afford to sit back and be complacent anymore.”

Ms Stevenson is organising the Resources and Energy Symposium (RES2012) – a not-for-profit event that will bring more than 60 resource companies, over 700 investors and 15 keynote speakers who will challenge current thinking and debate the real issues that face our nation. They’ll discuss the challenges the resource and energy sectors are set to face, look at ways it will impact Australia’s outlook and discuss future opportunities.

“The industry has been hit with many challenges,” Ms Stevenson said. “There are those who think the Australian Government is killing the golden goose. Now, more than ever, it is vital for the resources and energy sectors to gather together, share knowledge and ensure that we have a strong and sustainable future.”

Ms Stevenson is so passionate about the industry and educating all Australians around the opportunities surrounding the resources and energy sectors she has announced the creation of the Symposium Foundation. The foundation will use profits from the Resources and Energy Symposium for scholarship programmes to ensure that future generations understand the industry and its impact for Australia.

“Symposium will donate all profits from the event back to the Australian people,” she said. “Symposium is establishing scholarships to provide funds to educate students wishing to undertake tertiary education within the resources field. The future of our industry depends on these people. The more the people and the industry support RES2012 the more we can give back.”

The Resources and Energy Symposium will run from 21-23 May, in Broken Hill, NSW. Visit http://res2012.symposium.net.au/ for more information and details of how to register.

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For more information - or to register - please contact:
Symposium Level 9 66 King Street Sydney, NSW, 2000 + (61) 2 92994350 info@symposium.net.au www.symposium.net.au

For Media interview requests please contact:
Kirrily Ciscato 0414 303 695
kirrilyciscato@marketingangels.com.au

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