Tag: WA Gold royalty

Hundreds of industry workers descended on WA State Parliament on 10 October to protest the royalty increase.  All images: The Chamber of Minerals and Energy WA.   BY ELIZABETH FABRI   THE WA Labor Government is licking its wounds after WA Liberals announced it will block its controversial gold royalty increase proposed to fix the State’s finances. Announced back in September in the State Budget, the royalty involved a 50 per cent increase from the current rate of 2.5 per cent to 3.75 per from January next year, when the Australian gold spot price is above $1200. The royalty increase received strong opposition from companies and industry groups such as the Chamber of Minerals and Energy WA (CMEWA), which launched a...

The State Budget decision will see gold miners pay an increased royalty rate of 3.75 per cent when the Australian gold price is above $1200.   BY ELIZABETH FABRI   THE McGowan Government’s decision to increase royalty rates for WA gold miners has been labelled a “disappointing move” by the Chamber of Minerals and Energy of WA (CME) and a “baffling cash grab” resulting in potential job losses and mine closures by the Association of Mining and Exploration Companies (AMEC).   Under the Budget, from January next year gold miners will pay a tiered royalty rate of 3.75 per cent when the Australian gold spot price is above $1200, or the current rate of 2.5 per cent if at or...