Rinehart On a Roll: Australia Allows More Foreign Workers; but Thumbs Down Tax Relief

Earning $1 million every 30 minutes has its disadvantages too. For Gina Rinehart who was named this week by BRW Magazine as the world's wealthiest woman with $29 billion to her name, it meant more public scrutiny of her companies as well as her private life, particularly the ongoing family court feud.

It also means being told by Treasurer Wayne Swan that she does not need the tax relief promised by Opposition leader Tony Abbott. He was referring to the Liberal promise to repeal the 30 per cent minerals resource rent tax if the Coalition wins in the 2013 election.

Ms Rinehart has consistently spoken against the tax, which the treasurer said aims to spread the benefits of mining boom. The government is scheduled to start collecting the mining tax on July 1.

"As I have said repeatedly, we celebrate wealth creation in this country.... But we want even more people to have a stake in our success and we don't think the world's richest woman needs the tax cut Mr Abbott has promised her," News 9 quoted Mr Swan.

However, Ms Rinehart's company is expected to benefit from another government initiative - the enterprise migration agreement (EMA) which was announced Friday by Resources Minister Martin Ferguson and Special Minister of State Gary Gray at a mining conference in Perth.

Under the EMA, the Roy Hill iron ore project in Western Australia would be allowed to bring in hundreds of foreign workers to ease the labour shortage in the mining sector. Only mining firms will projects over $2 billion and projected manpower requirement more than 1,500 would be allowed to use the EMA.

In exchange, these companies are mandated to provide training to the foreign workers they will hire, pay them the same wages and operate under the same conditions as Aussie workers. The companies would also be required to train locals who would work in the mining industry in the future.

"While the emphasis is on developing local workers, the government acknowledges that increased migration has a major role to play in providing skills that cannot be met by the Australian labour market," The Sydney Morning Herald quoted Mr Ferguson.

More EMA may be allowed by the government in the future since according to Skills Australia estimates, short-term resources construction job vacancies would reach 49,000 in 2014, while 89,000 additional workers in the next five years would be needed for mining operations.