❓ Question on Notice regarding the royalty rebate scheme for junior iron ore miners, seeking details on eligibility criteria, companies involved, financial assistance provided, and the scheme's long-term implications.
AnsweredQoN 2338Legislative Council
QuestionView source ↗
I refer to the royalty rebate scheme or "temporary assistance" package offered to junior iron ore miners that was announced before Christmas 2014, and I ask: (a) what criteria are used to select which junior mining companies are eligible for assistance under the scheme: (i) which companies have been assisted to date and which companies are currently being considered for assistance; (ii) does this list of companies include BC Iron, Atlas, Mt Gibson, Cliffs and Mineral Resources; (iii) how much assistance, in dollar terms, per company, has been granted to each eligible applicant; (iv) which applicants have been found to be ineligible and for what reasons; (v) what is the repayment schedule applicable to each company assisted under the scheme; (vi) what are the interest rates applicable to those mining company assisted under the scheme; (vii) will the Minister make public all aspects of the scheme; and (viii) if no to (vii), why not; (b) how did the Government arrive at the figure of $90 per tonne as an appropriate trigger for the scheme: (i) will the scheme end once the price of iron ore is again higher than $90 per tonne; and (ii) will the scheme continue indefinitely until the price increases to more than $90 per tonne; (c) what is the Government's fall-back position if the price of iron ore does not recover to more than $90 per tonne by the scheme's end; and (d) what is the public benefit, in dollar terms, of the scheme?
AnswerView source ↗
Answered
17 March 2015
Responded by
Minister for Agriculture and Food representing the Minister for Mines and Petroleum
Response time
28 days
The Department of Mines and Petroleum advises:
(a)
- (d)
The Minister for Mines and Petroleum has received initial applications from a number of iron ore mining companies for temporary financial assistance.
The Minister is yet to make a determination as to which applicants should receive this assistance.
The eligibility criteria and application process are outlined in "Iron Ore Financial Assistance Guidelines for Applicants" and the "Financial Assistance Guidance Note" on the Department of Mines and Petroleum website, copies of which will be tabled for the Members convenience.
(a)
- (d)
The Minister for Mines and Petroleum has received initial applications from a number of iron ore mining companies for temporary financial assistance.
The Minister is yet to make a determination as to which applicants should receive this assistance.
The eligibility criteria and application process are outlined in "Iron Ore Financial Assistance Guidelines for Applicants" and the "Financial Assistance Guidance Note" on the Department of Mines and Petroleum website, copies of which will be tabled for the Members convenience.
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