Crank up mining royalties on Iron ore, page-3

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Furpo2

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21/03/20

19:32

Post #: 43624133
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Originally posted by moorookamick: ↑

Companies such as RIO, BHP & FMC stand to make trillions in profit over the next 50 years and it is about time that we review the current royalty regimes so that the average Aussie gets a fair shake of the sauce bottle. We have to consider what resource rich coultries like Norway & Saudi Arabia are doing for their citizens in fairly distributing resource wealth to all.

I know that the Neo-Liberal conservatives ( low tax/small government) advocates will cry wolf but before you do , please consider the following>

Suppose we apply the "self interest" mantra of multinationals such as BHP. RIO & Glencore to the ownership of our resources. Lets suppose that BHP owned all the iron ore in the ground in WA & that Glencore owned all te coal in the ground in Queensland. Just now think for a moment.........

Do you think that the royalty rates would be between 5% & 7%?

Pigs ass! They would jack up the royalty rates to the maximum so that the miners would be just marginally profitable; enough to keep them alive.

Is WA & Qld Governments doing that now and if not, why not? Surely if its good enough for the goose, its good enough for the gander.
Just have a read of the current marketing textbooks in resource management and you'll clearly see what marketing mix means and how optimum
profit can be sustainably engineered.

86% of our mines are foreign owned and in these trying Trump times, dont you think it is an honourable Aussie patriotic goal to put Australia & Australians first; not Multinationals' self interest.

Before rubbishing the idea, just have a squizz at the resource economic management regimes of Norway & Saudi Arabia.

Why dont we import them; we just about import everything else!

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Certainly we should think about it Moorooka.

Bear in mind there is little comparison between
Norway and Saudi
Zero similarity to Aussie.

In WA's north iron is king.
At Port Hedland
Drive out the "island"
you are monstered by mini mountains
and giant machine
and conveyors of the red stuff.

Once the iron is gone
it's gone.

The crazies won't let you
cut trees for a timber industry.

Plant seed grow em again.

By all means get a better deal on our ore.

Be aware the
vote power is in the cities.

The money will be spent saving the planet
encouraging diversity,
supporting alphabet people
25 different toilets.
Pi55ed against a psychotic wall.
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