CRU: Glencore Says Australia Is More Challenging for Miners

The risks of doing business in Australia are greater following a slew of government interventions and tax rises, according to Gary Nagle, CEO of miner and commodity trader Glencore. His comments coincided with the South Australian Chamber of Mines and Energy issuing figures showing the resource sector’s increased importance to the state.

“Australia has become more challenging. It’s generally acknowledged in the industry that Australia and Canada were the benchmarks in terms of secure investment jurisdictions,” Nagle was quoted as saying by The Australian newspaper. “What we’ve seen over the last 12 months or so is some gap opening up between Canada and Australia.”