sea bed mining, page-49

Russelj

Thanks for both posts. Re your second I totally agree in thanking the Good Lord re the resort being saved from total disaster by the mining industry, the housing construction initiative by the Commonwealth and also the usual coterie of "Aboriginal Industry" do gooders saving the Groote Eylandters.

I wouldn't put my money into eco-tourism, at least in a developed country, in a geographically isolated area with a high dollar exchange rate in play in a pink fit.

Please remember that I'm not anti-mining per se, and not here on Groote either. I'm very critical of mining when it's done in what would be in my opinion "poorly", such as when it destroys environmental and cultural core evalues unecessarily in ruthless pursuit of the profit bottom line. Most mining companies sprout a triple bottom line; money,environmental and social. But, generally I would suggest the latter two run, by a long way, equal last.

What I do like about the mining industry as it's regulated these days, and something which would also apply to GOT if they were to get into the game, is the necessity to put money into a trust fund to rehabilitate upon mine closure. Something less attractive, apparently, is an inclination for multi-natiobnals to flog off a mine towards it's life's end and have a lesser player rip in and completely exploit the remaining ore body and in doing so cut corners environmentally.

As an addendum: re the resort, in the 2006 "Australian article" that was posted by Fluffynymph recently, the then CEO of the ALC hoped that the resort would generat 90 jobs for locals...it generally employs between 6-10 with no long term core...can't compete with mining and construction re wages, and the hospitality industry, itself, just doesn't seem to be the GE's cup of tea as a job.