Ocka, hiAgreed they are not likely to let us off completely....

Ocka, hi
Agreed they are not likely to let us off completely. However, 'excess' profits are not unique to the mining sector, so it is disconcerting if we are being singled out compared with mobile phone operators, tv and radio broadcasters, property developers and pharmaceutical patent owners, etc. (Gina Rinehart's complaint... using the miners as an ATM?). It is an irony that removing excess profit from our future profit profile only exacerbates the iron ore supply shortage that is creating the excess profits. If I were an AGO shareholder I would prefer the MRRT, but as an FMS holder I prefer we pay a flat mining royalty instead. I do see there is an issue with naughty foreigners spending the share price gains overseas (that result from removal of the MRRT, and that such behaviour is not benefiting the Australian economy, i.e. is a leakage. However, Flinders is also competing with SDL for a jv partner, and I bet Sundance don't have to pay MRRT in Cameroon and the Congo Republic.