Grylls should stand firm

Pilbara News - - Opinion -

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.

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