That's fine if you are calling your hip pocket but keep in mind that 86% of our mines are foreign owned and that profit goes overseas. The relevant thing about the ass falling out of our Peso is that we are dependant on imports . We dig it up ( rather foreigners dig it up) and ship it with minimal local content in the form of secondary processing etc.
The average Aussie will be impacted by the 20% drop in our peso: -higher petrol price ( we import nearly 90% now) -higher car &parts pricing -higher hardware prices higher tea & coffee prices -higher clothes and shoes prices -higher new housing costs ( an increasing imported component) -We have $300 billion of armed Forces re-equiping in the pipeline of which over 80% is imported ( even the French have designed and are project managing our new Subs!)
And the list goes on. We are talking about Australia here not the limited benefit to foreign owned miners
