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Tuesday, June 29, 2010

Gerry's magical mystery mining money machine

Mining royalties shafted
Mining the estimated $54 billion of minerals in the Coromandel would net the Government just $1 billion in royalties over the course of a decade, official calculations show.

Finally brothers and sisters, ladies and gentlemen, boys and girls, the actual revenue projected to be generated from Mining the Coromandel is in.

Now you might recall that Gerry had used his magical mystery mining money machine to claim that there was $54 billion of minerals in the Coromandel, remember how I claimed that after all the bullshit promises of billions under dem der hills, we would all find out the actual revenue would be a pittance and we would turn to Gerry asking where our cow was and he would excitedly inform us he’s swapped it for some magic beans.

Yeah well what do we get out of the $54 billion to desecrate conservation land on the Coromandel? Over ten years? 1 Billion dollars. That’s barely $100 million per year for a decade and far less than the $54 billion valuation insinuated isn’t it?

Now Gerry argues that mining conservation land won’t damage our clean green image because mines can actually become tourist destinations as they have done in Australia.

Gerry, when I say mining damages our clean green global brand I’m not referring to the possible increase in foot traffic to a mine I’m talking about it damaging our clean green global brand . NZ exports can charge a premium because we have a clean green image right when clean and green are in short supply. Mine conservation land for a measly $108million per year for a decade and you put every export at risk because you damage the very reason they can charge that premium. Gerry you seem to have a ‘build it and they will come’ mentality towards open pit arsenic mines which suggests you aren’t really doing this for NZ economic gain at all, but are in fact doing it for the benefit of the mining industry.

In 2006 National told the mining industry what their intentions were on mining conservation land giving the mining industry plenty of time to donate money into the anonymous Waitamata trust yet for some reason John Key didn’t mention this mining of conservation land policy much during the 2008 election. He also forgot to mention those Australian mining shares he didn’t declare.

We only need to look at Australia to see what happens when an industry like mining has the power to finance a corporate coup and overthrow a Prime Minister they way they did with Kevin Rudd last week. It was Rudd’s righteous mining tax on massive windfall profits that caused the mining industry to fund attack adverts blitzed through the corporate news media, to manipulate spooked opinion polls which were then used to heavy the right wing faction of the labour party and overthrow Rudd.

Isn’t it hilarious that a corporate coup can be sold as a win for feminism?


At 29/6/10 11:38 am, Anonymous Anonymous said...

I'm opposed to mining in National parks (or any kind of mining at all basically) but if we're going to mine, why don't we start up our own nationalised SOE mining company? We must surely have the geologists, engineers, etc etc. And sure all that mining equipment costs a heap but hey! we then get to keep all the profit ourselves. And the market is there, whoever does the mining. What the hell do we need overseas mining companies for? John key can switch his shares to the new NZ mining company and there will still be plenty of opportunity for certain people to feather their nests!

At 29/6/10 12:34 pm, Anonymous Anonymous said...

But they "OWE" the overseas mining interests for the donations to the Waitamata trust. And the big boys intend to collect....
But yes, I agree, let's do it ourselves...


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