❓ Hon. Norman Moore questions the Minister for Resources regarding the confidentiality of iron ore production forecasts, the basis for projected price falls, and discrepancies between reported price increases and budget estimates for royalties. The Minister, Hon. Kim Chance, defers answering, requesting the question be placed on notice.
AnsweredQoN 556Legislative Council
QuestionView source ↗
IRON ORE — PRODUCTION FORECASTS
I refer the minister to question without notice 534. (1) Why are production forecasts for individual projects deemed confidential when public companies disclose their production targets to shareholders and the investment community? (2) What information is the department relying upon for its forecast price falls for iron ore in 2010-11 and 2011-12? (3) Why do the figures provided by the minister show a price rise for iron ore of some 28.8 per cent in 2008-09, when the budget papers state that the budget estimates for royalties are based on a 67 per cent price increase in the forthcoming year? Hon KIM CHANCE
I refer the minister to question without notice 534. (1) Why are production forecasts for individual projects deemed confidential when public companies disclose their production targets to shareholders and the investment community? (2) What information is the department relying upon for its forecast price falls for iron ore in 2010-11 and 2011-12? (3) Why do the figures provided by the minister show a price rise for iron ore of some 28.8 per cent in 2008-09, when the budget papers state that the budget estimates for royalties are based on a 67 per cent price increase in the forthcoming year? Hon KIM CHANCE
AnswerView source ↗
I thank the Leader of the Opposition for some notice of the question. However, it has not been possible to provide a response in the time available, and I ask the honourable Leader of the Opposition to place the question on notice.
(1) Why are production forecasts for individual projects deemed confidential when public companies disclose their production targets to shareholders and the investment community? (2) What information is the department relying upon for its forecast price falls for iron ore in 2010-11 and 2011-12? (3) Why do the figures provided by the minister show a price rise for iron ore of some 28.8 per cent in 2008-09, when the budget papers state that the budget estimates for royalties are based on a 67 per cent price increase in the forthcoming year? Hon KIM CHANCE replied: I thank the Leader of the Opposition for some notice of the question. However, it has not been possible to provide a response in the time available, and I ask the honourable Leader of the Opposition to place the question on notice.
(2) What information is the department relying upon for its forecast price falls for iron ore in 2010-11 and 2011-12? (3) Why do the figures provided by the minister show a price rise for iron ore of some 28.8 per cent in 2008-09, when the budget papers state that the budget estimates for royalties are based on a 67 per cent price increase in the forthcoming year? Hon KIM CHANCE replied: I thank the Leader of the Opposition for some notice of the question. However, it has not been possible to provide a response in the time available, and I ask the honourable Leader of the Opposition to place the question on notice.
(3) Why do the figures provided by the minister show a price rise for iron ore of some 28.8 per cent in 2008-09, when the budget papers state that the budget estimates for royalties are based on a 67 per cent price increase in the forthcoming year? Hon KIM CHANCE replied: I thank the Leader of the Opposition for some notice of the question. However, it has not been possible to provide a response in the time available, and I ask the honourable Leader of the Opposition to place the question on notice.
Hon KIM CHANCE replied: I thank the Leader of the Opposition for some notice of the question. However, it has not been possible to provide a response in the time available, and I ask the honourable Leader of the Opposition to place the question on notice.
I thank the Leader of the Opposition for some notice of the question. However, it has not been possible to provide a response in the time available, and I ask the honourable Leader of the Opposition to place the question on notice.
(1) Why are production forecasts for individual projects deemed confidential when public companies disclose their production targets to shareholders and the investment community? (2) What information is the department relying upon for its forecast price falls for iron ore in 2010-11 and 2011-12? (3) Why do the figures provided by the minister show a price rise for iron ore of some 28.8 per cent in 2008-09, when the budget papers state that the budget estimates for royalties are based on a 67 per cent price increase in the forthcoming year? Hon KIM CHANCE replied: I thank the Leader of the Opposition for some notice of the question. However, it has not been possible to provide a response in the time available, and I ask the honourable Leader of the Opposition to place the question on notice.
(2) What information is the department relying upon for its forecast price falls for iron ore in 2010-11 and 2011-12? (3) Why do the figures provided by the minister show a price rise for iron ore of some 28.8 per cent in 2008-09, when the budget papers state that the budget estimates for royalties are based on a 67 per cent price increase in the forthcoming year? Hon KIM CHANCE replied: I thank the Leader of the Opposition for some notice of the question. However, it has not been possible to provide a response in the time available, and I ask the honourable Leader of the Opposition to place the question on notice.
(3) Why do the figures provided by the minister show a price rise for iron ore of some 28.8 per cent in 2008-09, when the budget papers state that the budget estimates for royalties are based on a 67 per cent price increase in the forthcoming year? Hon KIM CHANCE replied: I thank the Leader of the Opposition for some notice of the question. However, it has not been possible to provide a response in the time available, and I ask the honourable Leader of the Opposition to place the question on notice.
Hon KIM CHANCE replied: I thank the Leader of the Opposition for some notice of the question. However, it has not been possible to provide a response in the time available, and I ask the honourable Leader of the Opposition to place the question on notice.
I thank the Leader of the Opposition for some notice of the question. However, it has not been possible to provide a response in the time available, and I ask the honourable Leader of the Opposition to place the question on notice.
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