The most valuable commodity in mining is capital and capital...

The most valuable commodity in mining is capital and capital moves to where it can receive the max return.

Just consider our own super funds, as you are aware a percenatage already goes offshore to ensure they have a balanced investment and to take the adavantage of as many of the opportunities in the world as possible. Now if you were a super fund manager with the choice of investing in a Canadian mining company or an Aust one with its new tax where do you think it will go?

People, have you forgotten how many oil&gas; gold and mineral companies are listed on the New York, London, German, French and Canadian stock exchanges? A super or any managed fund is spoilt for choice.

Only one person has pointed out on this thred that this tax is in addition to the 30% (to be 28%) company tax. Therefore Aust resource companies will fall heavily in the investment rankings if this tax is introduced.

Consider all the capital that was raised over the last year by Aust mining companies, do you really think this would have been possible if this new tax already existed? Where would Rio be today?