Mining companies are planning to fight government plans to increase resource taxes. Picture: Luke Marsden Source: The Courier-Mail
THE heads of the world's largest miners have met to discuss the increasing threat of resource nationalism as governments around the world look to earn a greater slice of their record profits.
Senior executives from the biggest miners met in Davos last week to discuss a range of issues, including a unified response to resource nationalism. Among the companies represented were Anglo American, Rio Tinto, Glencore, Codelco and Rusal, according to a report in The Times.
The executives, attending the World Economic Forum, are understood to have decided that it was not possible to pursue collective action. They hope, though, that if many companies separately use the same argument they will persuade governments that raising taxes will have damaging long-term consequences.
"We have to speak individually but with the same argument," one participant told The Times.
"We have to tell these people that we have other alternatives. We can go elsewhere. We have to choose where to put our capital."
The Australian
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