Nationalizing assets would go the same way. No matter the country.
Put yourself in the shoes of an overseas investor. Small ones and big ones, they'll all come to the same conclusion. "Why would I invest here when it can be stolen from me."
It takes a special level of arrogance from governments to think they are somehow the special exception to the rule.
If you have a read through what kind of countries have authorized "true nationalizations" they include nazi germany, soviet russia, the communist bloc, iran, venezuela, argentina ect..
As for "soft nationalizations" which have historically only been ever done very sparingly by western countries such as NZ, UK and the US...they still don't end up being looked at favorably by investors. These often have huge events linked to them to justify such a thing, for example the airport security in the US post 9-11 springs to mind.
Nationalization is never a good thing and would actually hurt Aussies more in this case. How many Aussies have their retirement money in super linked to BHP?
It's really easy to blame corporations as this faceless entity and side with populist politicians but if you think about it logically, BHP is not this evil corporation out to screw aussies, it's a profit making enterprise that's owned by small mom and dad investors as well as large institutions. Don't believe me? Check below, first result on google.
