The foreign ownership is a non-issue imo. Sure BHP is 40% foreign owned, and RIO 70% but these companies were created from mergers with foreign companies, they own mines in many countries, and generate a a lot of their revenues and profits overseas. Not sure how much exactly, but my guess is BHP roughly 40%, and RIO 70%? They don't send much out in dividends either. If Australian fundies (or investors) want to own a bit more of the action they're welcome to buy shares on market - the codes are BHP and RIO.
