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May 31st, 2012 
FAKE NEWS for the Zionist agenda Prime Minister Julia Gillard has vowed to spread the spoils of the mining boom despite industry and opposition claims Labor is threatening the health of the mining sector.
Iron ore producers Fortescue Metals Group and Atlas Iron said on Thursday Ms Gillard’s public reminder that the industry did not own the minerals in the ground showed politicians did not understand resource companies and could deter investment.
Ms Gillard warned the mining industry in a speech on Wednesday that Australians want and deserve a share of the nation’s resources boom, and would get it.
Fortescue chief executive Neville Power said Australia was at risk of “killing the goose that lays the golden egg” from Labor’s focus on the redistribution of wealth.
Atlas Iron head David Flanagan said he was offended by attempts to label the profitable industry as greedy.
Ms Gillard said she recognised people in mining worked hard and took big risks but so did people in hospitals, factories, schools and shops.
“They are entitled to see a fair share of the resources boom,” she told parliament.
“We will continue to be focused on spreading the benefits.”
Economic figures for the first quarter released on Thursday showed there was a huge pipeline of resources investment taking place.
Ms Gillard accused Mr Abbott of talking down the economy and “twisting” figures on Australia’s international competitiveness, when the economy was in good shape.
Mr Abbott was engaging in “aggressive negativity” by predicting the death of the coal industry, and the collapse of the mining industry because of the carbon and mining taxes.
Mr Abbott has pledged to unwind Labor’s mining and carbon taxes, reduce regulatory burdens and lower taxes to assist the industry.
Climate Change Minister Greg Combet said despite the coalition’s rejection of the taxes and its “tales of doom” about the mining industry were unusual given 30 per cent of coalition MPs had made investments in resources companies.
“It doesn’t show much faith in the member for Warringah (Mr Abbott’s) investment advice,” Mr Combet told parliament.
Treasury boss Martin Parkinson on Thursday expressed sympathy for mining companies because the peak of the resources boom had passed and the “golden bit” was over.
But he said the resulting pipeline of investment still had some way to run but he was also aware mining companies were trying to deliver appropriate rates of return to shareholders against rising costs.
“I actually sympathise with the comments they are making, since the golden bit is over,” he told an estimates hearing in Canberra.
“That golden bit was never going to last forever.”
Minerals Council of Australia boss Mitch Hooke said the industry paid taxes and royalties for the privilege of developing Australia’s natural assets.
“We never cry poor,” he told ABC Radio.
But Labor senator Doug Cameron accused the mining industry of living in a “parallel universe”.
Senator Cameron, who was a guest at the mining industry dinner addressed by Ms Gillard on Wednesday, said miners were benefiting from a strong Australian economy.
“It’s as if the mining industry is down on its knees and (that) we shouldn’t share the benefits of the mining industry,” he told reporters.
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