Rio Tinto (RTP -1.2%) hasn't cancelled any investments yet, but "we've got our projects on hold...

|About: Rio Tinto plc (RIO)|By:, SA News Editor

Rio Tinto (RTP -1.2%) hasn't cancelled any investments yet, but "we've got our projects on hold while we try to understand the ramifications of a 40% increase in taxes." Other industry players likened the new Aussie tax to a "40% nationalization" of the mining industry by the Australian government.