World’s richest woman Gina Rinehart says Australia is too expensive and uncompetitive (Video)

By on Sep 6, 2012 in Australia, Lifestyle Comments

Gina Rinehart, world’s richest woman, recently warned her fellow Australians saying that they are becoming too expensive and uncompetitive, as shown in the video below, which was immediately being criticized by Australian Prime Minister Julia Gillard.

Gina Rinehart speaks mining

World’s richest woman Gina Rinehart, speaking
about mining workers in Australia

Image Credit: SydneyMiningClub/YouTube

Rinehart, 58, whose personal wealth has reached A$29.2 billion ($28.4 billion) this year and had a fortune of A$10.3 billion ($10.05 billion) last year, according to a report by Business Review Weekly (BRW) last May, making her the world’s richest woman, spoke in a video last week at the Sydney Mining Club and addressed her concern on mining firms workers.

“We must be realistic, not just promote class warfare. Indeed, if we competed at the Olympic Games as sluggishly as we compete economically, there would be an outcry. The evidence is unarguable; Australia is indeed becoming too expensive and too uncompetitive to do export-oriented business.” Rinehart said on her 10-minute video.

“Furthermore, Africans want to work, and its workers are willing to work for less than $2 per day. Such statistics make me worry for this country’s future. We are becoming a high-cost and high-risk nation for investment.” The 58-year old mining tycoon added, with US$1.0 being equivalent to around A$0.9815 as of this writing.

Last week, Rinehart wrote an article at mining magazine Australian Resources and Investment saying that Australians should not sit and complain but to work more if they wanted to be rich, and to “spend less time drinking or smoking and socializing, and more time working.”

On the other hand, Australian Prime Minister Julia Gillard criticized Rinehart‘s comments saying that her government is supporting proper Australian wages and decent working conditions, and insisted that Australia would continue to be competitive in mining.

“It’s not the Australian way to toss people $2, to toss them a gold coin, and then ask them to work for a day. We’re going to compete on our great mineral deposits, our application of technology and high skills to the task. We mine differently than in other countries.” Gillard was quoted at Daily Mail this Wednesday, September 5.


World’s richest woman Gina Rinehart, addressing her concern to Sydney Mining Club
Video Credit: SydneyMiningClub/YouTube



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