Opinion: Clive Palmer mine refusal a disincentive to investment

The rejection of Clive Palmer’s coalmine on environmental grounds is unfortunate, writes Des Houghton. VOTE IN OUR POLL

For some reason I found myself feeling sorry for Clive Palmer this week after federal Environment Minister Tanya Plibersek killed off a coalmine he had planned inland from Rockhampton.

Wealthy people like Palmer pay big bucks for mining leases with the expectation that some day they will get a return.

And they deliver billions in royalties and taxes to the government.

For decades we have been enticing international firms to invest here.

Now we repel them.

It’s unfair to investors like Palmer.

Clive’s annual income exceeds $620m.

So I’m consoled by the fact that losing $100m here or there won’t upset him too much.