“In one of the most significant geological discoveries in decades, researchers have identified a deposit in the remote Hamersley region that could rewrite both mining economics and Earth’s ancient history. Already renowned for its mineral wealth, Hamersley is now home to what experts describe as the largest iron ore formation ever found — an estimated 55 billion metric tons of ore with iron content exceeding 60%.
Valued at roughly $6 trillion USD, this discovery could shift global trade dynamics.”
Can we tax it properly this time please???
26 Comments
Best we can do is sell the mining rights for a couple of cents to Gina rhineheart
Establishing a sovereign wealth fund, rather than putting all of the proceeds of selling bits of Australia into the pockets of oligarchs.
No doubt some parasitic billionaire or company will try and lock this up with zero taxation or the US might fake a crisis to get us to sell them rights.
I don’t believe it will be properly taxed, we’ll get barely anything for it because the politicians we vote for in the LNP and ALP are in their pockets.
Bah gawd!
Is that Donald Trump’s music?
This article is AI-hallucinated slop.
China:
I’ll give you three fiddy
Australia:
Done
A pity we wont see any of it.
So how much will we end up paying someone to get rich off this?
And the Aussie taxpayer will still get fuck all from the deal.
Cool. Great that this was discovered on Australian land.
Now, let’s do what Norway does — a sovereign fund based on resources taxes. Let’s do this for all of us, especially our upcoming & future generations:
[https://www.abc.net.au/news/2025-11-05/lessons-for-australia-from-norways-tax-on-resources/105939048](https://www.abc.net.au/news/2025-11-05/lessons-for-australia-from-norways-tax-on-resources/105939048)
Nope, they’ll probably give it to China for free and then we can buy it back from them for a 200% mark up.
Careful, if Trump hears about it he’ll invade Australia next.
Pretty sad reality when all anyone can think is, well this will mean fuck all to me.
Donald Trump: “The UK can not defend Australia from China, it is psychologically important to me that America has it”
if we just give it away, the rich countries will invite us to their birthday parties
Overseas multinationals must be thrilled
We’re going to need way more defence capabilities and we’ll need them soon.
Nationalise this shit and then enact a UBI
Thanks
The Australian government should own the mine. Legislation should be passed to distribute the profits to States (not just WA), making it close to impossible for the Liberals to ever sell it off.
Were we in a situation where we didn’t have enough ore to sell to meet demand?
I thought a bigger issue was global demand slow down
Under a Coalition government there would have been a 100% chance we gave this wealth away for free. Under Labor thankfully it’s only a 90% chance.
Finding more iron in an area littered with iron mines does not sound globally significant or capable or reshaping anything.
If we play our cards right, Australia could make several million dollars off the sale of this to Gina.
What a score!
>Can we tax it properly this time please???
“Hahahahaha”
– Albo (+ the rest of the Australian Parliament)
I got really excited to learn where it is being a geologist, but the article is utter trash.
No substance, don’t waste your time giving these articles advertising revenue. Highly suspect “AI”, or more accurately auto generated shit.
It’s throwing a load of buzzwords with no context and doesn’t even share where this discovery is. Closest thing it’s suggesting is “previously thought 30% iron content is now thought to be 60% iron content…. Well that’s kind of what a deposit is… but where is it? Are they suggesting the whole Pilbara? Then no, that’s bullshit, the world doesn’t work like that.