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The Forum > General Discussion > Beyond mining

Beyond mining

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Mining provides up to 10% of our export income and just over 2% of our employment and mining companies are about 85% foreign owned.

While it would have some impact, I think the apocalyptic scenario is a bit overstated. They were probably saying the same thing about the wool industry a few decades ago.

You should be more worried about manufacturing, but then again everybody wants to buy stuff as cheaply as possible don't they, and that is not the fault of any government but of greedy corporations trying to maximise profits. Why not save some outrage for them too?
Posted by wobbles, Thursday, 13 June 2013 2:43:30 PM
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wobbles as usual spot on.

Most understand the Australian dollar due to overseas traders not our government has stalled manufacturing.
Many too know lower dollar helps exporters in all fields, unless they need to buy over seas.
We will survive, no panic needed just watch.
Just think! what if we did not let solar panels go off shore.
Posted by Belly, Thursday, 13 June 2013 3:24:15 PM
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Absolute rubbish Wobbles. Companies don't close down & go out of business because they are making too much money. Just to help you, I'll give you one little case study.

I was running a company which among other products manufactured the best water/energy saving shower rose available. This was a solid brass chrome plated industrial quality item, used in hospitals, defense force, hospitality & public housing in quite large numbers.

It was not pretty enough to suit many domestic markets, then serviced by pretty but less durable plastic units.

We had produced these things in Brisbane for years, & by the late 90s were costing about $11.00 in store ready to ship. Of this $4.50 was the cost of the raw brass, before machining began.

We found competitors were copying the technical part of our patented item & having it produced in Taiwan. They could undercut us drastically.

We found the cost of defending our patent was beyond the practical value of doing so. I had to get our product manufactured in Taiwan to remain competitive.

I found I could land the completed item, into our store ready to sell for $2.02. I was astounded. If you are good at math, you will see that that finished product price is less than half the cost of the raw brass to make the thing here.

What would you have done? Close down, go broke, or import?

I would like to know how brass made from our copper & zinc can be sold in Taiwan for less than a third of what we pay here. It doesn't make sense, but is a fact. Perhaps you should try to find the correct people to blame, before making wild statements
Posted by Hasbeen, Thursday, 13 June 2013 5:22:50 PM
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...Mining provides up to 10% of our export income and just over 2% of our employment and mining companies are about 85% foreign owned.

Wobbles, you forget one very important piece of data, and that's what mining supports, by way of industry, as the inflow from mining is huge.

Many smaller outback, and semi outback towns are booming, simply due to mining.

Towns like Miles on the Darlimg Downs were heading towards being ghost towns not ten years ago.

In fact, many businesses are only still there due to mining, however they now face another problem, that being affordable living for their staff.

I would also suggest that the majority of the trucks on the country roads are servicing mining, either directly, or indirectly.

So don't be fooled by those telling you the loss of mining will have a minimal impact, as you must remember, these figures are about as accurate as our unemployment figures.
Posted by rehctub, Thursday, 13 June 2013 7:40:22 PM
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This Government isn't planning for anything after September 14 plus quite possibly a mining magnate might even have a fair share of say as of September 15.
The only mining that will hopefully be hit on the head is the mining of our financial resources by the Public Service. Is the Public Service paying mining taxes now or Carbon Tax ?
Posted by individual, Thursday, 13 June 2013 8:32:57 PM
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