A KEY foreign investor in Australia's mining sector has warned that the Gillard government's planned mining and carbon taxes, combined with rising labour costs and the high dollar, are driving capital out of the country to low-cost African nations.
Oleg Sheiko, the right-hand man to Ukrainian billionaire Gennadiy Bogolyubov, who paid $1.3bn for manganese miner Consolidated Minerals in 2008, said that when assessing where to invest in the future he would be looking to high-growth developing economies.
The Australian
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