❓ The question alleges a conflict of interest for the Treasurer due to shareholdings in mining companies that could benefit from increased WA gold royalties. The Treasurer vehemently denies the accusation, calling it 'pure stupidity'.
AnsweredQoN 210Legislative Assembly
QuestionView source ↗
TREASURER'S
SHAREHOLDINGS — ABM RESOURCES AND MEDUSA MINING
210. Mr W.J. JOHNSTON to the
Treasurer:
I refer to the TreasurerXXX ###XXXs
shares in the mining companies ABM Resources and Medusa Mining. Is it a fact
that these two companies when operating outside Western Australia will
potentially benefit from any imposition of a gold royalty increase in Western
Australia; and, if that is true, why is this not a conflict of interest?
SHAREHOLDINGS — ABM RESOURCES AND MEDUSA MINING
210. Mr W.J. JOHNSTON to the
Treasurer:
I refer to the TreasurerXXX ###XXXs
shares in the mining companies ABM Resources and Medusa Mining. Is it a fact
that these two companies when operating outside Western Australia will
potentially benefit from any imposition of a gold royalty increase in Western
Australia; and, if that is true, why is this not a conflict of interest?
AnswerView source ↗
That is the bizarre logic that I mentioned earlier. This is
some secret strategy that I have that the member has accused me of—I
bought some shares in Medusa Mining some years ago, which has one operation in
the Philippines, and then I am going to come into government and jack up or
alter the royalty rates in some way so that I can get higher value for shares
offshore. That is what the Leader of the Opposition is arguing for. How do I respond
to that pure stupidity? I do not know how to respond, member. But the answer
is: there is no relationship. Medusa does not have any liability to pay
royalties in Western Australia. The Leader of the OppositionXXX ###XXXs
convoluted logic about how I am trying to increase royalties here to help
Medusa is just plain laughable.
some secret strategy that I have that the member has accused me of—I
bought some shares in Medusa Mining some years ago, which has one operation in
the Philippines, and then I am going to come into government and jack up or
alter the royalty rates in some way so that I can get higher value for shares
offshore. That is what the Leader of the Opposition is arguing for. How do I respond
to that pure stupidity? I do not know how to respond, member. But the answer
is: there is no relationship. Medusa does not have any liability to pay
royalties in Western Australia. The Leader of the OppositionXXX ###XXXs
convoluted logic about how I am trying to increase royalties here to help
Medusa is just plain laughable.
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