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Mineral exploration

With 95% of this countries gold still in the ground, should the government slack off on unrealistic prospecting/mining laws? and should our government continue to allow foreign companies explore and develop our mineral deposits before our own citizens?

Dutch 6 Apr 14

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As an employee of a foreign owned gold miner (in Australia) I say yes to allowing exploration and mining operations, under strict Sustainability & Social regulation. The company provides employment and infrastructure investment, taxes, royalties etc. They also need to make a profit to return to shareholders for the capital they've raised. A win-win relationship. Site I'm at has been run by companies by 4 different countries over 30 years.

Where it turns to shit is if the governing body isn't transparent and dedicated to ensuring HSE Standards are being met, in turn not holding the miner to high account.

Shareholders should be demanding responsible use of their funds too, and backing companies who are in for the long term. Cheers !!

I say foreign owned companies should only be allowed to mine minerals in the USA if no American is willing to. but we are being denied the right in favor of foreigners.

@Dutch Do you realise mate, that when a company sells out to another, the majority of the workforce simply change shirts, have their entitlements transferred and continue to mine under the new owners structure & policy?

I've done it (Western Mining to BHP) and have mates with 20-30 years continuous service but worn shirts for 5 different companies.

Even where pay rates are lower under new owner, there's normally an ex-gratia payment to compensate the first year.

Government regulates it through No Disadvantage testing of the new contracts.

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