Mining Boom Forecast to Deliver $8.1 Billion Boost to Australian Government Coffers

Coal is stockpiled before being loaded on to ships at the RG Tanner Coal Terminal in Gladstone in Queensland, Australia on Jan. 20, 2012. The Terminal plays a vital role in delivering coal supplies to foreign markets. AAP Image/Dave HuntSurging commodity prices and higher mining tax revenue are set to deliver a multi-billion-dollar boost to the Labor government’s federal budget.The Minerals Council of Australia predicted higher commodity prices will likely add about $8.1 billion (US$5.74 billion) in extra company tax revenue in 2025-26 compared to last year’s Federal budget estimates.