"The States impose royalties to share the wealth from successful exploration and exploitation'
I could have some sympathy for your argument except for the state aided Tenement parking(look no further than the Cazaly Resources story for proof).
So in lieu of ineffectual and incompetent state governments,a higher body is required. Lets not forget also the GST( introduced by liberals)is a redistribution tax. An economic theory or policy that advocates reducing inequalities in the distribution of wealth.
So the precedent is there to follow.
The long-term hold of mining giants Rio Tinto and BHP Billiton over the mineral-rich Pilbara has only been severely tested twice.
Once was at the hands of the pioneering Andrew Forrest, who created enough political pressure to force the giants to let go of some of their long-held tenure for his Fortescue Metals.
The second test was orchestrated by two knockabout Perth brothers, one of whom drives a Holden ute with a St Kilda AFL logo plastered across its bonnet.
On Friday, August 26, 2005, Rio’s hold over an iron ore deposit called Shovelanna, which it had sat on for more than 30 years, expired.
One of the best tenement specialists in the game, Shannon McMahon, picked up Rio’s administrative oversight and passed the information to his ute-driving brother Nathan, who had started a company called Cazaly Resources.
