"There are quite a few journo's, treasury boffins, economic modellers, and one Prime Minister and one Treasurer who need to be given some basic lessons in mining economics."
This is my biggest concern too phillip_k. It concerns me because if the Australian people do not get a representative picture of the full repercussions this tax in its current format will have on industry, then they may not realise what they are potentially agreeing to with their next vote for Government. The tax causes significant hurdles to project finance from a number of angles.
In fact, I don't think many understand what damage has already been done with the Government acting the way it has.
Project financiers are saying: this is looking less than interesting as an investment due to the high risk/poor return ratio,
or they are saying:
"When's the next time the Government will suddenly spring an unpredictable and unconsulted change on us for our multi-year/decade project?"
Both situations effectively have the same result and end in project capital walking elsewhere (to other countries). Australia misses out. No one in Australia ends up with anything.
