Anticipated drop in iron-ore price prompts further warnings of consequences of WA tax

Iron-ore prices could fall by as much as 30% or more, analysts Gavekal and HSBC have warned, prompting the Western Australian Chamber of Minerals and Energy (CME) to again warn about the consequences of implementing further taxes on iron-ore. CME CEO Reg Howard-Smith said this week that the warning further underscores the volatility of the iron-ore and resources sector and highlights the need for a considered, stable environment to enable the sector to operate and grow, creating jobs and opportunity along the way, as well as returning income to the state.