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Message: Australian Miing Tax Info - BMO comments

BMO Research estimates the potential valuation and earnings impact of the proposed Australian "Resource Super Profits Tax" (RSPT) on its global mining coverage universe. All figures are provisional. 1: The RSPT would add a 40% ''super profits'' tax on Australian mining operations beginning July 1, 2012, leading to an effective 57% corporate tax rate for miners. 2: Stocks with the greatest valuation leverage to Australia and the RSPT are FMG, NCM, MRE, BLT and RIO. 3: BMO Research has not made any changes to ratings, target price or earnings forecasts although some stocks may be under review.

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