Grylls should stand firm
Well, it’s no surprise Rio Tinto is digging the boots into Brendon Grylls.
Remember what it did to Kevin Rudd when he tried to introduce a mining tax — a tax imposed by all other resource-rich countries?
Norway applied a 50 per cent resource tax and has saved more than $1.3 trillion.
Eritrea is a 50 per cent owner of a large potash project without spending a cent.
Bolivia, the poorest country in South America, has a large deposit of lithium and is asking for 50 per cent from anyone who wishes to mine it.
Chile has large deposits of copper and has benefited in a much larger proportion than Australia from that resource.
Even our next-door neighbour Timor has had much better return on resource than Australia.
When Rio points out how much tax it has paid, it doesn’t tell how much it has made by comparison, so that you can work out what percentage it has actually paid.
The sum of $5 a tonne is a small percentage of profits.
For it to say that it would give Brazil a great advantage, is just a scaremongering action. Don’t give in, Brendon. We are more entitled than the lousy $5.