Companies

Mar 19, 2014

Bishop’s Mongolian mining howler: talk about your sovereign risk

Julie Bishop lauds Mongolia as superior to Australia in encouraging mining investment. Too bad she didn't check the business pages, write Glenn Dyer and Bernard Keane.

Do Foreign Minister Julie Bishop’s advisers ever bother reading the business pages? Does the Department of Foreign Affairs and Trade, the department paid to advise her?

10 comments

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10 thoughts on “Bishop’s Mongolian mining howler: talk about your sovereign risk

  1. Saugoof

    I don’t want to fall into the trap of stereotyping, but one thing that most people I know who are fervent Liberal party supporters/members have in common is that they’re very good at inventing their own reality where things that they really, really, really wish were true magically become true.

  2. Mark Duffett

    It remains unclear why Dyer and Keane apparently continue to rely on Beare Dohlbear as the sole arbiter of mining industry sentiment. The only time I ever hear of Beare Dohlbear is from them. On the other hand, instead of waiting several days for BD’s next annual update, they could go to the much more highly (or at least widely) regarded Fraser Institute rankings, which were released a couple of weeks ago. There they would have found data even more supportive of their thesis (Mongolia is 13th from the bottom on the Policy Perception and 32nd from bottom on Investment Attractiveness, out of 112 jurisdictions) and a juicier quote:

    an exploration company president complained the Mongolian government “has not clearly set out new mining investment rules and is stuck with a system where investors do not know what they will end up owning at the end of the day—government needs a clear policy and several years of consistent non-corrupt operation of it to attract more investment.”

    mineweb.com/mineweb/content/en/mineweb-political-economy?oid=231410&sn=Detail

  3. JoJo The dog faced boy

    just had a look at that fraser institute report, nsw ranks 12th globally in processes that are non-corrupt. maybe it’s not as credible as you want to believe.

  4. Observation

    The dumbing down list keeps getting bigger with this lot. Strange how they are looking increasingly stupid with each burst on the soap box now their drivel has to be backed up by competency in a given portfolio and facts.

  5. klewso

    “Lady Penelope – Blunderbirds are Go!”

  6. Kevin Herbert

    Imagine screwing up a Dorothy Dixer?

    One of her staff will be on bread & water for quite a while.

  7. Liamj

    Will the secret brains of the LNP please stand up. At this stage i think we’d all welcome alien lizards with open arms, just to be sure there was someone smarter holding the reins than Abbott, Hockey & Bishop.

  8. JohnB

    How did the Mongolian Government come to own 34% of this huge project? Because they demanded it.

    34% on day 1, plus seats on the board.

    After 35 years, 100%. No more Rio Tinto.

    Which Australian State or territory demands such arrangements?

    If, in the mid-20th century, WA had this policy, then Gina would have inherited nothing – her father’s ore bodies and the mines built on them would have been gifted back to the government and people of WA last century.

    Our Foreign Affairs Minister should be very much more careful about what she says, lest people become convinced that she is an idiot.

    Some say that there is room for more women in federal cabinet. I suggest that there is already one too many.

  9. klewso

    Liamj – those brains only stand up for Viagra.

  10. Ian

    The Libs live in a world of fiction where the presence of facts has become purely co-incidental.

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