Xstrata denies suggestions from Australia's Prime Minister Kevin Rudd that problems with rail access and the supply of power were key factors behind the decision to stop development of its $6 billion Wandoan thermal coal project in Queensland’s Surat Basin.This is seems counter intuitive as today's ABS release indicates that commodiites are on the rebound
“We have to make investment decisions and if there's a tax regime that is either uncertain or not clear, or is onerous and doesn't allow us to invest, we'll invest in areas where we can get sensible returns,” Xstrata Coal's chief executive Peter Freyberg told broadcaster ABC overnight.
Ned isnt happy
