OK, Western Australian, Queenslander and South Australian kids largely own the mineral wealth. What passport is necessary to pass from state to state other than being an Australian citizen?

A Victorian kid can enjoy Queensland's mineral wealth just by moving there, but why put them to the bother when the Grants Commission can help out?

The MRRT is a tax, not an appropriation of mining states' wealth. If the mining states want to secede because they feel otherwise, then they should remember that they were propped up by the manufacturing states long before boom resource prices got them on their feet.

It is a tax that cannot guarantee income.

I would think any grants would be well and truly passed back; however a grant does not require paying back; only a loan.

Luciferase, you say....Well, if it came from low cap miners making small margins then it demonstrates that the bigs with their big margins will be contributing significantly when their credits run out.

Or they may go elsewhere.

Then what?

You must remember they are much smarter people than those making these mid stream tax laws.

As for being the wealth of all, as I have said before, if you wish to share state taxes/revenues, share them all.

What's unfair about that Luciferase

Then what?

A range of issues determine mining investment, including sovereign risk, political stability, company tax rate, exchange rate, and so on. Mining countries apply a range of approaches to getting miners to pay their way, and and our state royalties and federal MRRT will be weighed against these. See http://www.commdev.org/files/1395_file_comp_mining_tax_regime.pdf for a brief overview.

Other mining countries have extracted more from miners without the sky falling in, and we can too. The important thing is for the world to be able to buy resources at affordable prices while the mining countries are adequately compensated for them. Mining companies should do well out of delivering the service of extracting minerals, not sharing in the compensation received by mining countries for their assets, which will continue to happen without an MRRT or higher state royalties.

Do these other countries have low tax regimes on company taxes? Are the miners paid the same as in Australia? Do the companies pay superannuation for these employees? Are the minesites remote?

Luciferase... Or higher royalties.

Yes, you hit the nail on the head.

Now as for other countries, it is almost impossible to compare us with other mining countries, this is due to the likes of,
our isolation and sheer distance from our customers,
our wages and over all IR conditions and restraints.

Our miners are already telling us that costs here are far far too high and, if we don't listen, we may pay the ultimate price.

Either way, it is simply unfair to expect the miners to pay for to void left from labor's gross incompetence and total miss management of the economy.

Not one word of this was spoken of prior to labor taking office and commencing their quest to waste every single cent we had, or should have had.

Thank god they are on their last legs, and good riddens to bad rubbish I say.

September just can't come fast enough I am afraid.