Did you hear about Federal Environment Minister Tanya Plibersek...

Did you hear about Federal Environment Minister Tanya Plibersek putting a stop to Regis Resources’ [ASX:RRL] McPhillamy’s gold project in NSW on cultural heritage grounds?
This is after RRL invested over $300 million in the project and received State Government environmental approvals.
I don’t think our politicians realise how important the resources sector is to Australia’s well-being. They are truly living in an alternate reality.
By the way, I do not mean to say we shouldn’t consider cultural issues. We absolutely should. But when they pop up at the 11th hour, we should also be sceptical that anti-mining activists aren’t abusing them.
Either way, this decision increases the already decent amount of regulatory risk that exists for foreign capital looking to invest in the mining sector. Donald Horne’s old quote (from 1964) has never been so apt:
‘Australia is a lucky country run mainly by second rate people who share its luck. It lives on other people's ideas, and, although its ordinary people are adaptable, most of its leaders (in all fields) so lack curiosity about the events that surround them that they are often taken by surprise.’