Key Points:
Although the magnetite iron and uranium oxide royalties
will be imposed soon, the Government says it might consider
temporary exemptions on a case-by-case basis.
The Western Australia State Government has announced plans to
apply a 5% royalty to magnetite iron ore and uranium oxide
concentrates extracted from WA mining tenements.
WA's Minister for Mines and Petroleum Norman Moore announced
the State Government's intention to apply these royalties at
the Australian Uranium Conference in Fremantle last week.
Regulation 86 of the Mining Regulations (WA) 1981 provides that
when any of the minerals prescribed in the Regulation are obtained
from a mining tenement, or from land the subject of an application
for a mining tenement, royalties shall be paid by the holder of, or
applicant for, the mining tenement.
