Everard, the small miners have as much right to be there as the large ones and it is the latter who are creating the oversupply.
I don't think you know a lot about the manufacturing industry either. Not only is the high dollar forcing them out of business, the drain of good tradesmen to the mining sector also is a major contributing factor.

Curmy. I suggest you take a trip to the U.S. and have a look at the state of their manufacturing industry. (I have just returned). In another ten years or perhaps even less, they will not have a motor car industry. Most of the smaller cars are imports and with the price of gasoline now over a dollar, this trend will only increase. Our motor industry is heading the same way in spite of the propping up by various governments.

Under One God:
There was a time, when we still had a illuminating light on the hill, your rational argument would have found majority agreement?
A time when we were the third most prosperous nation on the planet and a creditor one at that!
A time when the gold standard held sway; and, which if still in place, would have virtually prevented the recent GFC.
Look, we likely have, to our immediate north, a hydrocarbon bonanza to rival or even eclipse the entire known Middle East reserves?
Moreover, if we used these reserves, to replace fully imported fossil fuel, we would see an immediate reduction by at least 38%, carbon production?
So, what did we do?
Why, declare a huge new marine park to virtually lock away all these potential reserves, which when fully exploited. I believe, would likely earn us around a trillion dollars plus per; meaning, we could retire this nations entire debt, avoid the New Great depression currently threatening the rest of the world; and, put enough cash/capital into our economy, to seamlessly transition to a low or carbon neutral economy, which somebody needs to pay for.
DTE basic common sense, gave us the aforementioned economy!
And unfathomable rank stupidity, gave us what we have now, and a completely self-made Clive, who was born in the log cabin he built with his own hands? Or Iron ore mining moguls Twiggy or Gina.
Both of who seem to have a problem with tax!?
If we the people but exploited our own resources, as evoked?
Nobody, rich or poor, would need to ever pay tax!
And the entrepreneurs would be free to go for it, with everything they have?
Only, in a truly rationalised economy, they would find both energy and capital, completely quarantined from their often mindless mercantile mechanizations? And mining would forever remain a contractual occupation only? And regardless of market conditions, contractual imperatives, would guarantee expected bankable returns! After all, 50% of something is one hell of a lot better than 100% of bugger all, or bankruptcy!
Rhrosty.

Rhrosty, pardon my ignorance, but what's this hydrocarbon bonanza you refer to.

Hello Ludwig. I have written several articles on population in my newsletter Everald @Large over recent years so I can assure you that I have not forgotten about population. The world is grossly overpopulated but Australia is significantly underpopulated, with eighty percent of our population in capital cities - where they should not be. We need population in rural and regional Australia and this is a goal that I constantly promote. Everald

"Enormous opportunities abound in providing food security for the whole world, commencing with our neighbours in Asia, but we have not looked seriously at the enormous possibilities of this.... We can use mining as the economic power base from which we launch our stable prosperity to new heights."
Sorry Everard, but these two statements are mutually contradictory, at least as far as coal seam gas is concerned. The mining of CSG risks the water supply upon which Australian agriculture depends.
The coal seam gas industry has conceded that extraction will inevitably contaminate aquifers. The Australian Petroleum Production and Exploration Association told a Sydney public meeting that good management could minimise the risks of water contamination, but never eliminate them.
"Drilling will, to varying degrees, impact on adjoining aquifers" said the spokesman, Ross Dunn. "The extent of impact and whether the impact can be managed is the question."(SMH Aug 3/11)
In other words they don’t know what drilling through the aquifers will do, and they don’t know if they can fix resulting problems.
The risks of water catchment pollution from other mining activities (coal, gold, rare earths) is also well documented.
We cannot allow short-term greed for mining royalties put at risk the enormous opportunities providing food security opens up for Australia now and into the future. Particularly when mining coal seam gas is already acknowledged to be capable of lasting only one generation. Food production is indefinitely sustainable- if our greatest natural resource, our clean water sources, is protected.