Australian Treasurer Swan Names Mining Tax Policy Group

Australian Treasurer Wayne Swan on Tuesday named the policy team that will meet with mining companies to discuss the implementation of a controversial mining tax proposal if the government is re-elected Aug. 21.

The center-left Labor government watered down the tax proposal early last month, cutting the headline rate of the tax to 30% from 40% and excluding all minerals except iron ore and coal.

But it still faces some industry opposition, particularly among smaller miners who argue they were excluded from the deal brokered July 2 with the country's biggest miners--BHP Billiton Ltd. (BHP.AU), Rio Tinto Ltd. (RIO.AU) and Xstrata PLC (XTA.LN).

As previously announced, the policy transition group will be headed by former BHP Billiton chairman Don Argus and Resources and Energy Minister Martin Ferguson.

The panel will also include former Woodside Petroleum (WPL.AU) executive Keith Spence; former Rio Tinto executive David Klingner; Erica Smyth, chairwoman of Toro Energy Ltd. (TOE.AU), who has previously held senior roles with Woodside and BHP; Chris Jordan, chairman of KPMG's New South Wales division; and David Parker, executive director of the Treasury department's tax division, Swan said in a statement.

Australia's main opposition Liberal-National coalition of center-right parties has said it will oppose the mining-tax plan in the upper-house Senate, or rescind it if it wins office.

-By Rachel Pannett, Dow Jones Newswires; 61-2-6208-0901; rachel.pannett@dowjones.com

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