Greens insult our hardworking NSW miners again

August 20, 2014

Once again the Greens have insulted the more than 20,000 coal miners of NSW and their families, this time by claiming that Sydney University’s modest investment in the job-creating Whitehaven coal mining project near Boggabri will somehow damage the institution’s reputation.

There are many good reasons why this cheap political stunt should be rejected.

The Maules Creek project was fully approved after an extensive and detailed assessment process involving state and federal governments. The project is already delivering significant economic benefits to the Gunnedah region and will provide over 400 long term local jobs. Whitehaven have also made a commitment to provide over 40 local jobs for indigenous Australians.

Demands from the Greens to end investment in this project are completely out of touch with reality. Most Australians already invest in mining directly through shares or through resources stocks held as part of their superannuation funds. These investments have proven to be of significant long term benefit to most shareholders, whether they be 'mum and dad' investors or large institutions.

Mining also provides highly skilled jobs for thousands of students studying at universities across Australia and will continue to do so for decades to come.

In fact University of Sydney recommends a range of its courses for a career in mining and resources, stating on their website:The mining and resources industry is big business for the Australian Economy. It is intrinsically linked to our economic future and global influence.’

For a party that claims to want to improve social outcomes, the Greens also seem comfortable turning their backs on the millions of people living in some of the poorest regions of China and India who are being lifted out of poverty through access to cheap and reliable coal-fired electricity.

In the end people are of course entitled to make their own investment decisions for their own reasons. However, anyone choosing to take investment advice from Senator Lee Rhiannon does so at their own financial risk.

Contact: Chris Rath | | 0409 758 734 | 02 9274 1419

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