China is considering following in Australia's footsteps and increasing its resource tax.

In a report in the China Daily, China's Government said it sees the resource tax as a way to slow resource depletion and the damage to the environment, while rebalancing the nation's economy.

The country recently implemented a 5% resource tax on petroleum in Xinjiang.

The tax is being considered as a litmus test for an overall tax on the mining industry.

China does not have any history of enforcing tax on the resource industry.

This crap won't happen in Canada, that Pig Iron scare is non sense too.