abc four corners hatchet job, page-231

Hi Flats

You should really do a bit of research and not just put out the the propaganda spewed out by the mining industry.

All profits have been reinvested. Really? are you saying that BHP, RIO, Xstrda did not pay dividends? If they did, that profit clearly was not reinvested. and, how much of this went overseas?

Soverign risk - Are you serious, and have you any idea what you are saying? The biggest threat to soverign risk is that we sell the farm to foreigners. When are you going to wake up to yourself? Why did we letr Xstrada take over our second biggest mining company in MIM? All profits are repatriated to Switzerland and the UK. etc etc.
Have you ever wondered why with such big exports in the last few years, our balance of payment goes further in the red? Well you should, because by selling the farm we have hocked our children and grand children. We are destined to be the water carriers.

If you are going to discuss tax for the mining industry, i would suggest that you look at the whole picture. Including the fact that they can claim exploration costs (this is a start up cost which is not available to other industries.). they are the biggest recipient of the Fuel rebate. They get breaks on imports. Analyse the whole picture and you will find that the mining industry receives more subsidies than other industries.

Get your facts straight. Royalties are not a tax. This is the cost they pay for the raw minerals. Are you suggesting that they get them for nothing?

I would also suggest that some people here start thinking as Australians. Get off your knees. If South Africans yappies don't like it, send them packing! Don't fawn to them.

Pear