With all due respect to you, it is people like you that our PM is crying out to, and the reason he is still a chance to win the next election.
Comments like "RIO 70% foreign owned" shows your lack of knowledge. Rio is actually a foreign company...the fact, inversely, that it is 30% locally owned shows how much Australian investment means to these companies. Being listed on the ASX does not mean it is an Australian company.
I hate this supposed tax because I believe it to be unfair...all this spin about the resources are owned by all Australians is just not true. The resources in WA are owned by the people in WA, not by the people in NSW and Victoria. If the Government in WA has an issue with the what the mining companies pay, then raise the state royalty...while mining companies may not be happy with this they will at least acknowledge it is a State right to do it.
Moving the goal posts after a company has risked several hundred of millions of dollars is plain stupideven the high risk African nations havent done this.
Sovereign risk? We used to be low and now we are high.of course companies now need to rethink where they spend their dollars.
What people dont seem to realise is that companies still will need to give their shareholders adequate returns for investing in a risky industry..do you think that mining companies will give their shareholders lessor do you think that the days of $100,000+ truck drivers will be over and employee numbers will reduce? Is this growing the industry as Labor suggests?
