The Australian mining business is purely venal, transactional. It feels like 10c a tonne extra cost will make them shut down for better times. Most mines negotiate favourable tax holidays for decades against the capital investment hole they metaphorically and actually dig, and then find ways to avoid royalty payment. It's a small number of immensely powerful companies, some in private hands, they've cost elections by strategic investment in political advertising (a proposed petrol resources resource tax sunk the Labor party majority at a tight election for less than $150m of ad spend opposed, alleging job losses)
Australia was a supplier of rare earths before China went large on volume and price. The mines were shuttered and mapped reserves left untouched.
If you want strategic supply be prepared to pay a premium, the mining sector is not giving up profit.
__d · 17h ago
If it's a strategic necessity, and if the mining sector is going too far milking that for profit, perhaps it's time for the government to a public sector mining company? Instead of giving out public money to private companies, use it to build government-owned businesses, and introduce some real competition.
Even the threat of doing so would potentially work ...
King-Aaron · 16h ago
We desperately need to nationalise this industry here.
Australia was a supplier of rare earths before China went large on volume and price. The mines were shuttered and mapped reserves left untouched.
If you want strategic supply be prepared to pay a premium, the mining sector is not giving up profit.
Even the threat of doing so would potentially work ...