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Posted May 4, 2010 7:16am
Dsc01765comp_large

The first company to grandstand and say they hare not going to do any exploration given the uncertainty caused by the proposed mining tax on profits was announced today, the 4th of May.

Is this lost jobs?-NO! Exploration is exploration and often ends in failure.When the value is there, they will be back.

Jobs that are here now will stay. Even the miners workers union supports the tax! An asset in the ground will still be there in the future to be realised. The world is not going to stop wanting resources.

Everyone says the China boom will bust. They still have a significant percentage of their population linving in poverty, the earthqauke tioll is testament to poor building.

In Fiji you cannot buy land, only lease it. Yet in Australia we seem quite content to give our assets away. Whether the mining tax is the ultimate answer I am not qualitifed to know but it seems like a step in the right direction to make the assets of Australia worthwhile for all of Australia and to let others know we value our natural assets and will charge accordingly to part with them.

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Posted May 5, 2010 6:20am
Me_large

I agree.  With the kind of profit these partly foreign owned companies are making I think they can afford this tax.  The share price will dip, they will complain a bit, but I think it will be business as usual pretty quickly.

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Posted May 5, 2010 7:23am
Tooniana_large

Rape and pillage needs to be curbed no matter where it's sourced (government, institution or individual). At present we are seeing what were this country's public resources and assets being given over by those who are purportedly serving their constituents into the control of foreign ownership, as well as some local private investors, but in the main - who think only of the quick ROI.

Most of our mining companies have significant overseas ownership or it is being used to support overseas interests and there is little concern for the welfare of Australian communities. I notice that this webpage has an promo for Generation>One - what portion of this mining tax will go to such programs?

It has taken Kevin Rudd two years to recognise that the only way to effectively boost the economy is to start putting in infrastructure that works for us (rail, road, dams, power generation, etc) and as he's emptied the kitty already on his handouts (instead of hand-ups), he's been forced to look around for someone with deep pockets and something in them.

Good on you mining companies for having the forsight to be available for fleecing. I'm really glad you were there, otherwise we'd all be paying extra for electricity, gas, water, rent, etc.... Hang on- I'll just compare my electric bill with the one from last year - OH-MYGOSH... They've got me tooooo.

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Posted May 6, 2010 7:12am
029_large

It's been my thought that many people who are connected with Mining communities are the ones whinging cause they simply charge miners the Earth to live in 3rd world country conditions. Their the ones who deserve what's coming to them because it's been going on for so long and have been making all the money instead.

I agree with the argument though that the work will always be there and if some people aren't happy with it, move out and let someone else in!

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Posted May 6, 2010 11:42pm
Default_user_large

When the tax burden was switched by the GST from the miners to the low income and pensioners the miners cheered.

When the mineing bosses recieved the unaffordable tax cuts the miners cheered.

Now asked to contribute to the ports, roads and rail used only by the miners, help educate the staff, keep the staff in good health guess what.

THE MINERS SCREAM THEIR BLOOY HEADS OFF.

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Posted May 7, 2010 1:48am
Plainswanderer_large We need to keep in mind that it is the mine owners, not the miners themselves. The miners themselves can see the value in the tax and wholeheartedly support it. What the owners see is a possible lowering of profits and therefore return to shareholders. What is invisible in that equation is that WE are all 'shareholders' because we own the resources in the first place.

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Posted May 24, 2010 4:59am
Dsc01765comp_large

This issue is raging at the moment with all parties posturing to get the best outcome. It is funny for so many to be taking the sides of the mining companies by likening them to every other big business. They are not the same as they are extracting an asset owned effectivley by us all. Surely some premium should be placed on this. Once it has gone it has gone for good.

Maybe there are exceptions for smaller companies such as quarries and the salt producers but these exceptions should not derail the whole train.

It is also of interest to see how much of Kakadu national park and its indigenous dwellers have been exposed to radioactive material from leaching and spills by the local big company mine. Mining companies are not benevolent societies and the fact we allow them to take and then harm our inhabitants should permit us to fix a premium on the opportunity.

The English money system used to be based on" well if it cost me this amolunt to produce I add a respectabole margin and sell it for that". The American money system, which the world has adopted is" I don't care what it cost to produce, I will sell it for what the market will bear" 

If Australia ends up being the most taxed marketplace in the world for mining companies as they argue, nice to be at the forefront again becuase as sure as eggs if we get the premium, other countries will follow suit.

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Posted Jun 5, 2010 7:15pm
Default_user_large It has happened so often in the past. Australian Companies start something and either move offshore for higher profit or sell out for profit. The minning industry is notorious in this aspect. The Chinese are gobbling up world resources at an unsustainable rate. I'm not real big on Rudd and his minions but I beleive he's making a step in the right direction to curb the minning rape of our great land. Why not mine it here, process it here and then sell it over there. More money would stay here. Big Business doesn't give a toss about the joe bloggs just the revenue they raise. The off spin from all this as well is where do people think all the money is comming from, that the Unions are spending on their campaigns?? Bang goes all those industry super funds.

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Posted Jun 5, 2010 10:10pm
Svw_close_large There was a professor on Life Matters on the ABC who explained the tax in some detail. Actually he did a really good job. He was also not politically involved in the whole thing. He basically explained it was a really well considered and very comprehensive change to the tax system. Well worth looking for on the ABC site.

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Posted Jun 5, 2010 10:21pm
Plainswanderer_large Life Matters has been a breath of fresh air in the 'debate' about the proposed new tax and has done a good job of explaining it well. What seems to have been forgotten in the heat of the argument is that the proposal is one of many that has come out of a comprehensive tax review that will make the system better for everyone. It may cause pain in the short term, but will be better for everyone in the long term. I don't think there is anyone who has not criticised the tax regime for being too complicated and unbalanced.

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