All Ords takes another beating on mining tax fears

All Ords takes another beating on mining tax fears

The All Ordinaries index fell another 32.8 points today, due to fresh doubts over government mining taxes, according to ComSec.

The S&P/ASX 200 Index dropped 30.8 points to 4624.9, even while mining giants signalled they would continue to ramp up iron ore production despite reports the states could increase mining royalty rates, ComSec analyst Juliette Saly said.

The All Ordinaries and S&P/ASX 200 both fell more than 30 points on Monday, and these losses were only partially made back on Tuesday.

The Australian dollar ended the day's trade worth 97.55 US cents, well below its near-parity peak this week.

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Tags Australian dollarmining taxAll Ordinariesindex

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