The Haase Report

THEBHP Billiton Proposed Outer Harbour Development in Port Hedland estimated tocost $40 billion was due to be approved in December this year, it has now beendecided to delay that approval for at least 12 months.
Nanjing Night Net

OnFebruary 2 this year BHP Billiton announced approval of US$917 million inpre-commitment funding for the construction of a 100 million tonne per yearouter harbour facility in Port Hedland, BHP Billiton President Iron Ore, IanAshby, was, in February, quoted as saying, “This investment is an importantfirst step in providing the infrastructure to allow us to fully develop ourworld class resource base in the Pilbara. The development of the outer harbouris pivotal for our longer term growth objectives and this initial funding israpidly turning those plans into a reality.”

UnderBHP Billiton’s revised approach to Port Hedland, extensions to the innerharbour may be given a higher priority however those works cannot lift exportsto the level necessary to target their longer term growth objectives as theouter harbour would have.

Considerthis deferred decision coupled with the decision not to proceed with the $30billion

extensionto Olympic Dam and you start to realise that this Government’s policies areslowly

stranglingpositive investment in this country.

Internationalcapital is incredibly mobile; always boardroom decisions will be made in theinterest of long term sustainability and return to shareholders.

Withoutconfidence in the Government’s commitment to sustain existing financial regulationsno company will be prepared to make major long term investments.

ThisGovernment can say and do whatever it likes but with the track record of the PrimeMinister for deceiving the people by changing her mind on major policy whyshould any corporate board believe what she says.

Wemust ask the question, what has happened during the six month period betweenFebruary and August of this year.

Surelywe cannot think for one minute this delay does not have something if noteverything to do with the introduction of the mining tax, the carbon tax andthe Government’s consistent anti-mining rhetoric.

Forall of the Government’s talk of ‘sharing the benefits of the mining boom’ ithas effectively conceded that under its watch, Australia has become a lessattractive place to do business.

Thecarbon tax, the mining tax, the 18,000 new regulations, the return of militancyin the building sector and Labor’s anti-mining rhetoric have all impacted theattractiveness of Australia as a country of low sovereign risk.

Themining industry knows that the government introduced big new taxes on themining industry as a way of locking in Green support to hold office.

ThisGovernment ignored the warnings of BHP Billiton just as it consistently ignoresthe wishes of the Australian public.

Federal Member for Durack Barry Haase.

Posted by at 21/10/2018
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