❓ Hon Peter Collier asks about royalty payments and rebates related to Mineral Resources Ltd's Koolyanobbing iron ore deposit acquisition from Cleveland-Cliffs Resources. The Treasurer's representative provides figures from budget papers, noting full royalty rebates under a financial assistance program.
AnsweredQoN 1146Legislative Council
QuestionView source ↗
MINERAL RESOURCES LTD —
KOOLYANOBBING DEPOSIT — IRON ORE ROYALTY
1146. Hon PETER COLLIER to
the minister representing the Treasurer:
I refer to page 247 of the 2018–19 Annual Report on State Finances .
(1) What is the
amount of royalty payments made by Mineral Resources Ltd for iron ore from the
Koolyanobbing deposit that it acquired from Cleveland–Cliffs Resources?
(2) What is the
iron ore royalty rebate paid to date by the state government to Mineral
Resources for iron ore from the Koolyanobbing deposit that it acquired from
Cleveland–Cliffs Resources?
KOOLYANOBBING DEPOSIT — IRON ORE ROYALTY
1146. Hon PETER COLLIER to
the minister representing the Treasurer:
I refer to page 247 of the 2018–19 Annual Report on State Finances .
(1) What is the
amount of royalty payments made by Mineral Resources Ltd for iron ore from the
Koolyanobbing deposit that it acquired from Cleveland–Cliffs Resources?
(2) What is the
iron ore royalty rebate paid to date by the state government to Mineral
Resources for iron ore from the Koolyanobbing deposit that it acquired from
Cleveland–Cliffs Resources?
AnswerView source ↗
I thank the honourable member for
some notice of the question.
(1)–(2) Page
236 of the 2019–20 budget paper No 2 provides figures on the
Koolyanobbing mine financial assistance program. Under the program, royalty
payments are fully rebated. The figure of $17.008 million for 2018–19
consisted of a royalty rebate payment of $12.008 million to Mineral Resources
and a royalty rebate payment of $5 million
to Cleveland–Cliffs. Updated figures will be published in the 2020–21
budget.
some notice of the question.
(1)–(2) Page
236 of the 2019–20 budget paper No 2 provides figures on the
Koolyanobbing mine financial assistance program. Under the program, royalty
payments are fully rebated. The figure of $17.008 million for 2018–19
consisted of a royalty rebate payment of $12.008 million to Mineral Resources
and a royalty rebate payment of $5 million
to Cleveland–Cliffs. Updated figures will be published in the 2020–21
budget.
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