Australia's wealthiest person, Gina Rinehart, has launched a fierce attack on net-zero emissions targets, arguing they are directly costing mum and dad shareholders their dividends from West Australian iron ore giants.
Speaking on National Mining and Related Industries Day, which she founded in 2013, Mrs Rinehart claimed the pursuit of green goals is harming both investors and the nation's broader economic prosperity.
Dividends Sacrificed on the 'Green Altar'
Mrs Rinehart specifically targeted the rivals of her Hancock Iron Ore empire, BHP and Rio Tinto. She pointedly asked shareholders about their most recent half-yearly dividends, which she stated were the lowest in the last seven or eight years.
"Your dividends are being sacrificed on the green altar," she declared. "How many billions are each of those public companies spending on net-zero?"
She urged shareholders to confront company boards at annual general meetings, demanding to know how much of their money is being spent on net-zero schemes instead of being returned as dividends. She characterised this spending as cash "burned in the green incinerator" while Australia's productivity declines.
Overwhelming Public Rejection of Net-Zero Priorities
Backing her stance with polling data, Rinehart asserted that most Australians do not support making net-zero a priority. She cited a May poll from the Institute of Public Affairs which found that 79 per cent of Australians want the government to focus on energy affordability and reliability, not net-zero targets.
"Only one in five Australians think net-zero should be the priority," Mrs Rinehart stated. She further revealed that 98 per cent of respondents refused to pay more than $500 a year for net-zero, with almost half unwilling to pay a single cent.
She argued for the continued use of Australia's abundant coal and gas, at least until the nation is ready to adopt cleaner nuclear power.
Government Tape Strangling Mining Projects
Expanding her critique to the Australian government, Rinehart lamented falling living standards, rising crime, and difficulties in recruiting for police and defence. She accused politicians of being out of touch with realities that discourage investment.
She highlighted a severe impact on the mining sector itself, citing analysis from the Minerals Council of Australia. "80 per cent of mining projects in the pipeline are now on the casualty list," she revealed, stating they are being deferred or cancelled under the weight of government tape and bureaucracy.
This, she warned, translates to fewer opportunities for high-paying mining jobs, making it harder for families to repay mortgages, afford private school fees, or go on overseas holidays.
Her comments come less than a month after fellow mining billionaire Andrew Forrest ridiculed her rejection of net-zero, championing green energy as a path to economic prosperity.
