Aus Tax Payers Loan $100mill US to BHP and Rio Tinto

quoting is not a difficult thing to do


The Age of Entitlement is over...for you and I, but not for Big Business.


Australian Tax Payers will loan $110.6 million dollars to BHP and Rio Tinto for a mining project in...CHILE!




AS long as BHP/Rio Tinto pay a fair interest rate on the loan, I have no real problems with that tbh.  Not sure the govt really should be in the business of loaning money to mining companies, but this is the least scummy of the squillion concessions the miners get, really...

As long as we have enough left over to stop the boats.

What are they mining? Habaneros? Jalapenos?


What are they mining? Habaneros? Jalapenos?



In Chile? Couple of countries out there.

I don't see the issue. 

Are we going to make a buck on it? And is it insured/guaranteed?

If both answers are yes, go for it.

I don't see the issue. 



I don't have a problem with the concept




This government is cutting services, taking away peoples jobs, cutting foreign aid, reducing diplomatic services, reducing peoples wages, attacking pensioners looking for budget savings, etc etc etc, on the grounds that we don't have the money. So where do we get this $110,000,000 that we will lend to multi billion dollar resource companies? And given that we are apparently skint, surely there would be better ways to use a "spare" $110,000,000 you must have suddenly just "found", than lending it to wealthy mining companies.

I think it’d be easier for all concerned if Bix just posted “the mining industry is always correct all of the time” in every post. Rather than the current situation where it’s about 2 of every 3

Well, unless I’m wrong, they aren’t lending it for free right? They will get some sort of yield?

People love to hate mining companies.

Well, unless I'm wrong, they aren't lending it for free right? They will get some sort of yield?

But they could have lent it to companies who would have paid a yield and created jobs for Australians at the same time (dey took our jerbs). Without knowing the terms of the investment it's pretty hard to make a judgement either way. But as Reboot says, it requires a bit of chutzpah to say to one sector of society: "We don't have the money, deal with things yourself", while to blue-chip companies you're saying: "Sure we can help you out, here's $110m we found down the back of the couch. Pay us back whenever bro, sweet as."

People love to hate mining companies.

True, but the companies make it fairly easy by making profits from common resources and then crying about a tax on royalties. Also Clive Palmer and Gina Rinehart.  :ph34r:




By the by, do you know anything about Victoria's neotectonics, Bix? No particular reason, it's definitely not that I should be writing an essay now when I've spent the last hour on blitz.

Fair points. I would argue the government, like mining companies, need to manage risk but I can’t be bothered right now.

Neotectonics!!! FINALLY, I knew this day would come not my favourite type of tectonics, sort of geo-peaodo but that’s okay. PM me your essay question! Or email

What’s the difference between a geo-paedo and a regular one?

What's the difference between a geo-paedo and a regular one?

I imagine bear associated with it would be different for a start

Saw one of those stickers on a beat up old Corolla wagon recently, young bloke in it with his missus, NO IDEA WHAT SO EVER.

Well, its rocks that are younger than what I am into personally, but whatever floats CBH's boat I guess. 

i thought you were in to granny rocks. 

the older the better!! 

Bix was into tectonics before they were neo.

You've probably never heard of them.