Australia's mineral exploration gains face capital gains tax hurdle

Australia’s mineral exploration expenditure rose year over year in the quarter ended March 31, government data showed, but industry fears a new federal tax could stifle the momentum amid volatile markets. Australian mineral spend rose 16.3% to A$949.3 million ($679.33 million) in the March quarter on the back of a 53.4% lift for gold to A$450.9 million, according to the Australian Bureau ofAustralia’s mineral exploration expenditure rose year over year in the quarter ended March 31, government data showed, but industry fears a new federal tax could stifle the momentum amid volatile markets. Australian mineral spend rose 16.3% to A$949.3 million ($679.33 million) in the March quarter on the back of a 53.4% lift for gold to A$450.9 million, according to the Australian Bureau ofRead More