<
https://www.theguardian.com/australia-news/2025/oct/25/mining-giants-must-pay-rent-tax-critical-minerals-cash-boom>
"Crossbench MPs are reviving calls for a mining rent tax to guarantee taxpayers
a “fair cut” of a potential critical minerals boom.
Independents David Pocock, Allegra Spender and Kate Chaney say past policy
decisions that have allowed companies to profit off Australian gas with
relatively little return to taxpayers must not be repeated as the country’s
next big resources opportunity beckons.
Australia’s burgeoning critical minerals industry was this week given a major
boost after the prime minister, Anthony Albanese, and the US president, Donald
Trump, signed a landmark A$13bn deal to fund a pipeline of projects in the two
countries.
The agreement inked in Washington has prompted Pocock to resurrect calls for a
new mining tax to ensure taxpayers aren’t short-changed.
The ACT senator said the federal government must avoid repeating the past
“mistakes” with the offshore LNG sector, including export deals and tax
settings, which he said allowed multinational gas giants to “siphon” off
Australia’s natural resources.
Pocock has regularly criticised the petroleum resource rent tax (PRRT), which
raised $1.45bn for the federal budget in 2024-25 despite the huge revenues of
oil and gas companies such as Santos and Woodside.
“These are our natural resources, they belong to all of us, and if they’re
going to be exploited, then we need to get a fair cut of that,” he said."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
