I don't agree with the premise.This is worse than communism. The...

I don't agree with the premise.

This is worse than communism. The most extreme form of Nationalisation.

Here's how it works. You take a risk with your (investors') money.
If you make a profit, thanks, we'll have that.
If you make a loss, well, that's your problem.

Only a moron would invest into an environment like that. Who would want to be an explorer?

And it's not just the shareholders that lose out. How many people (tax payers & voters) are employed in the industry? And how many families rely on the income from those workers? And how many small business survive off of the custom of the mining industry employees.

If this gets implemented, Australia will pay for this for decades to come.