January 27th, 2015

Iron Ore Relief Package Backs Jobs and Industry

Friday, 19 December 2014

•Royalty rebate scheme for junior miners
•Confidence boost as companies cut costs

The State Government will make temporary assistance available to junior iron ore miners on a case by case basis as they restructure operations in challenging market conditions.

Premier and State Development Minister Colin Barnett and Mines and Petroleum Minister Bill Marmion said the assistance would be in the form of a 50 per cent rebate on eligible haematite iron ore royalties for up to 12 months, subject to the iron ore price remaining below an average of $A90 per tonne over the period.

……
Each request will be assessed by the Department of Mines and Petroleum on a case-by-case basis, through an extensive economic analysis overseen by an independent probity auditor.

The department will then make recommendations to the Minister regarding eligibility for assistance.

Fact File
•The rebate will take effect from the December quarter 2014 royalty payment, with the first rebates available to eligible haematite miners in February 2015
•Royalties for Regions (RfR) will fund 25% of the cost of the payments, with this amount to be re-appropriated to RfR following repayment of the rebates

© The Government of Western Australia

Hon. Colin Barnett, Premier; Minister Bill Marmion MLA