On the first day of sitting, Kennedy MP Bob Katter met with the new Minister for Industry and Innovation, Senator Tim Ayres, and his department head to develop a rescue package for Mount Isa, which provides mining sector reforms and ensures taxpayer funds won’t be used to bail out the international mining giant Glencore.
“Let me be quite clear; we don’t bail out foreign billionaires,” Mr Katter stated.
“Just down the road in Cloncurry, another copper mine, Ernest Henry, has recently announced record-breaking profits. Glencore was the former operator of this mine and got rid of it, claiming it wasn’t profitable. That should give you a very clear picture of how incapable Glencore really is.
“I have said it repeatedly, if Glencore cannot make the Mount Isa copper smelter work on their own, the government should step in; not to throw money at what appears to be ‘spectacular mismanagement’, but to take control of the asset.
“This smelter is a vital piece of Australian industry, and government needs to act – swiftly and decisively,” Mr Katter said.
Government must immediately:
(1) Reserve a portion of domestic production for domestic processing and manufacturing to ensure a national benefit, and
(2) Implement ‘use it or lose it’ so that multi-national organisations can’t sit on our mining assets to influence international stock markets.
“We cannot compete with the Chinese when their governments build and own factories, provide subsidised power and don’t require return on investment. Australia is already fighting an uphill battle; meanwhile, we are letting Glencore run riot and send our value offshore,” Mr Katter warned.
Mr Katter expressed confidence that the government was beginning to see the writing on the wall.
“There is faith that this government will move to gain a stake in the copper smelter, not bail out the multi-national Glencore. If they want ownership partnerships, then it should come with government oversight, domestic processing guarantees and a binding commitment to Australian jobs.
“It is an insult to all Australian taxpayers that a single cent of their money would be spent on a foreign-owned corporation that has recorded massive profits in other divisions while allowing for our critical infrastructure to wither and die.
“A line in the sand must be drawn. Our assets must be retained for our benefit. Glencore can get with it or get out.”
Cyberpunk: “What happened next is probably best left alone”.
You mean like digital slavery and 10 minute gulags?
The future? First world countries in terminal productive decline. Workers who made and did stuff, slowly overlaid by millions of children (pre-teenage and post teenage) wearing corporate VR Haptic suits to get food and shelter vouchers. Someone has to train AI, why not children?
‘Glencore was the former operator of this mine and got rid of it, claiming it wasn’t profitable. That should give you a very clear picture of how incapable Glencore really is.’
Glencore might simply be releasing company equity for more profitable operations elsewhere? That’s often how it goes.
“We cannot compete with the Chinese when their governments build and own factories, provide subsidised power and don’t require return on investment.’
As the copper industry constitutes an essential raw commodity for the emerging AI-centric global tech industry, which is set to become the largest economic growth engine in recorded history, it is important to understand, that Western capitalism was replaced in 2008 [and 2020] by another economic model.
If the CN cloud-serfs ever understood what happened, and why it was deemed necessary for Goldman-Sachs to introduce the ‘Non-Profitable Technology Index’ in 2021, etc, they will eventually realise how they are being financially exploited on a daily basis with every comment they post, by their own volition, and without even realising it.
Western Capitalism’s initial termination occurred in 2008, followed by its formal emancipation from profits between 2017 and 2020, when the ‘loss-making’ Cloudalist companies – the largest companies on the planet, saw their share value rise by 200%, followed by a secondary explosion to 500%!
These companies were loss-making, or ‘non-profit generating companies,’ yet simultaneously delivered the largest share price rises, the largest market capitalisation appreciation, and needless to say, the largest corporate ownership of total market dominance.
As the complete anti-thesis of Capitalism proper, where profits alone are responsible for share price and market cap appreciation, it is this little understood economic system that has now replaced Capitalism at the apex levels: where it counts.
What happened next is probably best left alone.
Brianjanz: Australia is gifted with resources that are beyond the imagination, and the governments here know that, and their only interest is in those resources is to capitalise on them to their, not our, benefit.
Note the case with Norway, and the massive tax on their resources they levy.
https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Norway
Each Norwegian has some $325k in their bank account, with $27k going in every year.
With a population of only 4.5 million, Australians, if the same tax were levied on our resources, every AUSSIE should be a multimillionaire, given that our resources dwarf those of tiny Norway.
Ripped off there, and ripped off in alcohol and tobacco taxes, which should fund our now massively depleted health system, and ripped off with the $16 billion-plus fuel excise that is meant to pay for the construction and maintenance of our shouldn’t-be-buggered-up national roads.
Grand Theft Auto-Australian Government, as the title of my video was going to be:
https://cairnsnews.org/2024/08/01/guess-whos-liable-for-damage-to-your-car-from-potholes-on-roads/
Maybe an investigation into the Arms Length Companies.
I have raised this issue on this site before.
A big crook in the system was the goon traitor McFarlane.
Mohamet. What you have to do is take your local Member for breach of contract, for the reasons explained in my video, homelessness being only one instance of this breach:
https://rumble.com/v2yf678-homelessness-equals-governmental-breach-of-contract.html
Whilst being most respectful I must say that if people cannot cotton on to that concept and realise it is in fact doable, then they may be forever lost and never manage to achieve any redress.
The Australian Government allocated $50 million for the most idiotic projects imaginable, Carbon Capture and Storage, and Swissy’s Glencore sucked up $35 million of that. Who in our useless, brainless, crap government is owned by Swissy.
This rubbish initiative does not even eradicate Useless Eaters !!!
Unless, is there a plan in Bill Gates’ head to kill everything by CO2 deprivation then regenerate it all via seed banks ??? Nothing would surprise, the only thing truly going hyperbolic these days is stoopidity.
How in God’s name could the government fund something so obviously moronic.
The question is as to how this operation was allowed to go pear-shaped?
Likely deliberately, as may have been the case in South Australia, so that one of the Black Rock types can buy it.
“You vill own nusink, and be continually and forever flissed”, Komrad Kalus might say.
[…] Source link […]
[…] Source link […]