abc four corners hatchet job, page-235

Shallow thinking pear.

not all profits are reinvested but a very high percentage which is why dividends for the big miners are so much lower than the banks.
A percentage of profits from many companies goes overseas but its taxed here in australia before it goes.

Your comments on sovereign risk indicate you dont know what sovereign risk is. Selling the farm to foreigners is another issue entirely. sovereign risk is the perceived risk of doing business in a country.
The new tax will see more assets sold to overseas owners at lower costs because they are less valuable to Australians.
surely you can see that if an investment property earns $20,000 a year is worth more than one that earns $15,000?
If you reduce the profitability you reduce the value.

The flow on affect of this is that projects that were viable become unviable. Financing becomes harder to get. Offers to buy projects will be accepted from companies that dont care if they make a profit but will gladly just take the commodity. Investors dont invest because the risk is still high but the reward has been reduced. Capital will go elsewhere (not all capital but some of it definitely).
Jobs become more scarce etc.

Yes they can claim exploration costs. As can a software company can claim research and development costs & drug companies their R&D.
Why do you think this is not available to other industries?

"The Crown, or in other words the people of NSW, owns the majority of mineral assets in NSW. A mineral royalty is the price charged by the Crown for the transfer of the right to extract a mineral resource."

so you dont call it a tax? what is it? its a charge anyway you look at it.
How is it that you ignore the audited figures from RIO & BHP on what they pay in tax?
People who are totally unaware of how the industry works assume that the minerals dig themselves up after having volunteered their location, financed themselves & replace themselves after they run out.
Greed is motivating those who want to take a larger share from those who actually invested & risked their hard earned money for a potentially good reward & put it in their own pockets for no risk whatsoever.

Its communism in action.