Bold governments take bold moves in the interest of the National bottom line. Somehow i don't think China would be quite as nice to the likes of a RIO / BHP situation. It is not an issue of blame rather an escalation of sovereign risk for these 2 which is required in order to maintain Australia's global status quo. The idea of a Mineral resources rent tax, had the same basic idea but failed to grasp that in order to make it work, you had to seize control. The federal government needs to put the future of Australians first and seize BHP and RIO.
Will companies all pull out, will tourists stay away, will the UN/IMF take decisive action ? I doubt it, not in the long run anyway.
They can offer RIO and BHP shareholders a type of share byuyback scheme to minimise shareholder losses. I am sure as we speak someone somewhere is considering the viability of this proposal.
BHP Price at posting:
$31.57 Sentiment: None Disclosure: Not Held
FMG Price at posting:
$2.56 Sentiment: None Disclosure: Not Held
RIO Price at posting:
$58.53 Sentiment: None Disclosure: Not Held
SDL Price at posting:
2.2¢ Sentiment: None Disclosure: Not Held
AGO Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
BCI Price at posting:
48.0¢ Sentiment: Buy Disclosure: Held
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