Thursday, June 24, 2010

Australia mining

Rudd’s popularity plunged after criticism from mining companies including Melbourne-based BHP Billiton Ltd. and London-based Rio Tinto Group over plans to impose a 40 percent levy on mining profits from 2012. Julia Gillard, who took over from Rudd, said today she was “throwing open the government’s door” to negotiate with the mining industry.

IMO: Hmm, Ben Chifley would certainly not have put up with BHP the way the present Labor Party are doing. But perhaps more importantly, a lot more minerals are now being sold, with little profit to average Australians who perhaps do not realise just how much of Australia's mineral wealth is being sold off, somewhat like "Pig Iron Bob" did in the late 1930s. I can see that Rudd has been a difficult person for many to deal with, and that some compromises may now be made, but hopefully more along the lines of saving face than anything else. China does not seem to object either, and indeed why should it - they even put some of those BP types from the big mining companies in jail recently, and many still bear in mind the thoughts of Chairman Mao, certainly not always wrong..

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