❓ Opposition Leader Mark McGowan questions Treasurer Dr. Mike Nahan about potential conflicts of interest regarding his shareholdings in ABM Resources and Medusa Mining, particularly concerning their WA activities. The Treasurer confirms the companies' WA presence but denies any conflict of interest.
AnsweredQoN 202Legislative Assembly
QuestionView source ↗
TREASURER'S
SHAREHOLDING — ABM RESOURCES AND MEDUSA MINING
202. Mr M. McGOWAN to the Treasurer:
Prior to asking my first question, I
acknowledge, on behalf of the Parliamentary Diabetes Support Group,
representatives of Diabetes WA in the gallery this afternoon.
I refer to the Treasurer's
comments in relation to shares he holds in two mining companies, and I quote —
''The two mining companies I
own shares in do not have any mining operations in WA.''
(1) Can the
Treasurer confirm that these companies actively acquired, divested and applied
for numerous mining tenements in Western Australia over the course of the last
year?
(2) Can the
Treasurer confirm that ABM Resources, one of the companies, is based in
Nedlands and employs local staff?
SHAREHOLDING — ABM RESOURCES AND MEDUSA MINING
202. Mr M. McGOWAN to the Treasurer:
Prior to asking my first question, I
acknowledge, on behalf of the Parliamentary Diabetes Support Group,
representatives of Diabetes WA in the gallery this afternoon.
I refer to the Treasurer's
comments in relation to shares he holds in two mining companies, and I quote —
''The two mining companies I
own shares in do not have any mining operations in WA.''
(1) Can the
Treasurer confirm that these companies actively acquired, divested and applied
for numerous mining tenements in Western Australia over the course of the last
year?
(2) Can the
Treasurer confirm that ABM Resources, one of the companies, is based in
Nedlands and employs local staff?
AnswerView source ↗
(1)–(2)
Yes. Let me confirm first that I own shares in two firms that are both gold
firms; one is Medusa, as a single asset, in the Philippines. That is the business
it owns. It is very proudly located in Western Australia somewhere; its
headquarters —
Mr M. McGowan interjected.
Dr M.D. NAHAN : The
Leader of the Opposition asked two questions and I am answering.
It is proudly based in Western Australia, investing overseas
and doing well, given the gold price. So, that is it. It owns one asset in the
Philippines. Is there any conflict of interest with me? It is not liable for
paying royalties in Western Australia. Convoluted rubbish from the people
opposite, who accuse me of promoting an increase in the royalty rate, which we
have not done, to ensure that businesses in the Philippines make more money, is
just some of the stupidity coming from people opposite. ABM Resources is a firm
that has an exploration in the Northern Territory. It has entered into a deal
to process the ore mined in the Northern Territory in a processing plant in
Western Australia, but the ore—the Leader of the Opposition might be
informed—comes from the Northern Territory and is liable to pay Northern
Territory royalties, not Western Australian.
Yes. Let me confirm first that I own shares in two firms that are both gold
firms; one is Medusa, as a single asset, in the Philippines. That is the business
it owns. It is very proudly located in Western Australia somewhere; its
headquarters —
Mr M. McGowan interjected.
Dr M.D. NAHAN : The
Leader of the Opposition asked two questions and I am answering.
It is proudly based in Western Australia, investing overseas
and doing well, given the gold price. So, that is it. It owns one asset in the
Philippines. Is there any conflict of interest with me? It is not liable for
paying royalties in Western Australia. Convoluted rubbish from the people
opposite, who accuse me of promoting an increase in the royalty rate, which we
have not done, to ensure that businesses in the Philippines make more money, is
just some of the stupidity coming from people opposite. ABM Resources is a firm
that has an exploration in the Northern Territory. It has entered into a deal
to process the ore mined in the Northern Territory in a processing plant in
Western Australia, but the ore—the Leader of the Opposition might be
informed—comes from the Northern Territory and is liable to pay Northern
Territory royalties, not Western Australian.
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