Spreading the Wealth?
The wealth from the mining boom is spread right across Australia.
Australia is currently undergoing a once in a generation mining boom. Investment in mining projects is currently double its long term average. What this means is that there is plenty of money to go around. Check out the map of Australia to see just where the mining wealth is going.
In September 2009, Iron Ore magnate Clive Palmer bought his daughter this $5.3 million yacht for her 15th birthday.
Clive Palmer is the proud owner of this modest weekend getaway, and bought an extra a couple of golf courses in September 2011.
WA mining millionaire Chris Ellison bought this modest three building 7567sqm riverfront property for the very reasonable price of $57.5 million from mining heiress, Angela Bennett. See, the mining wealth totally gets spread around (between different mining families).
In July 2011, Australia’s richest woman Gina Rinehart paid $7.85 million to buy a neighbour’s property, taking the land value of her 10,950 square metre compound to $53 million.
Australia's richest person, Gina Rinehart has recently published a 7-point-plan for Australia. It includes cutting taxes on mining, loosening environmental laws and bringing in cheap migrant labour from Asia, an act she says would be "humanitarian".
