"Im afraid if this tax goes through it will be the slow death of an industry that has been the heartbeat for australia for so long."
I am against the tax but I just feel this 'slow death' won't happen.Sure some dubious projects won't get out of the ground, but the big miners will continue to build mines here because this is where the minerals are.This is the fortunate fact for this country.
It is easy to mine in Australia, with a stable & competent workforce. They won't like the tax but it will not stop them.Investment will suffer but to what degree is anyone's guess.I know the sensationalism in this debate would suggest it would be 100% but that would be a joke.
I do think there is some lying going on from both sides which tends to leave everyone very confused. It has been poorly thought out and introduced by the government. The miners are helping that perception along.
FMG Price at posting:
$3.75 Sentiment: None Disclosure: Not Held
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