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Foreign ownership of our resources and businesses.
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<blockquote data-quote="davent" data-source="post: 656555" data-attributes="member: 6002"><p>Well I think most people don't really understand about "our assets ".</p><p>After the Mabo decision, any resources on land belonging to indigenous people, belong to the traditional owners.</p><p>Royalties are negotiated between who ever wants to mine them, and the TOs.</p><p>This why mining taxes are not really practical. If a mining company has to pay Royalties, it's not going to pay a mining tax as well, it's one or the other.</p><p>Groote Eylandt is a classic example of this, over $600 million paid in Royalties so far.....with lots of it unaccountable....I know of one case where $34 million went missing, but when you add it up, it's way more...</p></blockquote><p></p>
[QUOTE="davent, post: 656555, member: 6002"] Well I think most people don't really understand about "our assets ". After the Mabo decision, any resources on land belonging to indigenous people, belong to the traditional owners. Royalties are negotiated between who ever wants to mine them, and the TOs. This why mining taxes are not really practical. If a mining company has to pay Royalties, it's not going to pay a mining tax as well, it's one or the other. Groote Eylandt is a classic example of this, over $600 million paid in Royalties so far.....with lots of it unaccountable....I know of one case where $34 million went missing, but when you add it up, it's way more... [/QUOTE]
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General
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Foreign ownership of our resources and businesses.
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