Sorry the minerals are owned by all Australians and we allow people/companies to locate and mine them subject to payment of what our democratically elected governments on our behalf set as a fair price at any point in time. It is in the National interest that a bigger proportion of the funds from our minerals benefit all Australians. Whatever profit over 6% is taxed at 40% and the company retains the other 60% of the profit. 6% is the cut off point but in fact the company can earn any amount of profit depending on the margins for their minerals at any given time. Theoretically their profit can be 20% or 100% but as its over 6%. they are subject to the RRT.
It really amounts to nothing more than SOCIALISM.....what's mine is mine and what's yours is mine to share:)
