❓ Mr Murray questions the Premier's decision to grant a royalty concession to Gindalbie Metals while seemingly denying similar assistance to a struggling WA employer. The Premier defends the Gindalbie concession as a strategic move to encourage Chinese investment in the Midwest iron ore industry.
AnsweredQoN 692Legislative Assembly
QuestionView source ↗
GINDALBIE METALS LTD — ROYALTY CONCESSION
692. Mr M.P. MURRAY to the
Premier:
I have a supplementary question. Why did the Premier give a
royalty concession to Gindalbie Metals but will not commit to provide similar
assistance to a much-needed Western Australian employer, or does the Premier
have favourites?
692. Mr M.P. MURRAY to the
Premier:
I have a supplementary question. Why did the Premier give a
royalty concession to Gindalbie Metals but will not commit to provide similar
assistance to a much-needed Western Australian employer, or does the Premier
have favourites?
AnswerView source ↗
I do not have favourites; what a silly proposition that is.
Mr M. McGowan :
Why? Explain it.
Mr C.J. BARNETT :
Who asked the question?
The SPEAKER : A
supplementary question was asked.
Mr
C.J. BARNETT : Gindalbie was given a royalty concession during its start-up,
as the first of a new magnetite industry, which is using relatively low —
Mr M.P. Murray interjected.
The SPEAKER :
Member for Collie–Preston!
Mr
C.J. BARNETT : It is looking at the start-up of a new industry using
magnetite deposits with lower grade iron ore content that have been known about
for 100 years and thought never likely to be developed. There are a lot of
issues relating to the midwest, Labor's mining tax and a range of other
matters.
Mr
M.P. Murray interjected.
The
SPEAKER : Member for Collie–Preston,
I call you to order for the first time.
Mr
C.J. BARNETT : This comes at a time of extremely sensitive relations between
Chinese investors, state-owned enterprises and Chinese governments over the
development of those resources. We gave a concession, a 50 per cent reduction
in the royalty—they are not paying no royalties—during the
commissioning period. We want to give a signal very clearly to Chinese
investment in that area that we want to see the midwest iron ore resources
developed. That is a policy on a case-by-case basis. The Gindalbie project is
very close to paying full royalties as it concludes its commissioning period.
I had meetings with the coal companies and their owners and
existing and future customers, as has the Minister for Energy. We are aware of
the precarious nature of the industry but I have not yet been able to get some
commonsense and a bit of commercial reality applied. I am confident that we
will get to that point, maybe sooner rather than later.
Mr M. McGowan :
Why? Explain it.
Mr C.J. BARNETT :
Who asked the question?
The SPEAKER : A
supplementary question was asked.
Mr
C.J. BARNETT : Gindalbie was given a royalty concession during its start-up,
as the first of a new magnetite industry, which is using relatively low —
Mr M.P. Murray interjected.
The SPEAKER :
Member for Collie–Preston!
Mr
C.J. BARNETT : It is looking at the start-up of a new industry using
magnetite deposits with lower grade iron ore content that have been known about
for 100 years and thought never likely to be developed. There are a lot of
issues relating to the midwest, Labor's mining tax and a range of other
matters.
Mr
M.P. Murray interjected.
The
SPEAKER : Member for Collie–Preston,
I call you to order for the first time.
Mr
C.J. BARNETT : This comes at a time of extremely sensitive relations between
Chinese investors, state-owned enterprises and Chinese governments over the
development of those resources. We gave a concession, a 50 per cent reduction
in the royalty—they are not paying no royalties—during the
commissioning period. We want to give a signal very clearly to Chinese
investment in that area that we want to see the midwest iron ore resources
developed. That is a policy on a case-by-case basis. The Gindalbie project is
very close to paying full royalties as it concludes its commissioning period.
I had meetings with the coal companies and their owners and
existing and future customers, as has the Minister for Energy. We are aware of
the precarious nature of the industry but I have not yet been able to get some
commonsense and a bit of commercial reality applied. I am confident that we
will get to that point, maybe sooner rather than later.
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