Liontown founder Tim Goyder warns tax grab threatens minerals exploration. By Brad Thompson in The Australian.

Mining entrepreneur Tim Goyder says the Albanese government has “lost it” and that its capital gains tax changes will have a disastrous impact on mineral exploration as well as the ability of Australians to create wealth.

Mr Goyder, who pegged his first exploration tenement 52 years ago, savaged a government he said lacked vision and had no understanding of how ordinary people made money.

The self-made billionaire and his loyal band of investors have survived a wild commodity ride to claim life-changing fortunes from explorers like the lithium producer Liontown which he chairs.

“What’s the crime about making money?” he asked The Australian. “The government has lost it. They think they can spend the money better than the individual, and that’s not the case.”

Mr Goyder lashed out as the Association of Mining and Exploration Companies warned the tax changes would deter investment in finding Australia’s next big mining project and mineral security.

“The reason why exploration and mining has been successful in Australia is that there’s an underlying investment community made up of super funds and, in the early stages, retail investors,” said Mr Goyder, who says he could never replicate his success as an entrepreneur in a world where the 50 per cent capital gains tax discount is discarded as Labor plans from July 1, 2027. …

“To buy a house, you need money. How can you make money out of wages when you’re being highly taxed and the only chance you’ve got of actually accumulating wealth is through capital gain?”