❓ Shadow Treasurer Wyatt questions the Treasurer about the expected revenue from the asset sales program, specifically regarding the sale of Utah Point given the decline in iron ore prices. The Treasurer avoids providing specific figures, citing ongoing assessments and market conditions.
AnsweredQoN 166Legislative Assembly
QuestionView source ↗
ASSET SALES PROGRAM — UTAH POINT
166. Mr B.S. WYATT to the
Treasurer:
I refer to the Treasurer's statement, reported on
Friday, on the government's asset sale program in which he said, ''There
are some complications there about value.''
(1) The
Premier stated that he expected to generate $2 billion from the current asset
sales program. What is the new amount that he expects to generate?
(2) What price does the Treasurer now expect to receive from
the sale of Utah Point?
(3) Does he
think it is wise to try to sell a publicly owned iron ore port at a time when
iron ore has undergone a significant decline in price?
166. Mr B.S. WYATT to the
Treasurer:
I refer to the Treasurer's statement, reported on
Friday, on the government's asset sale program in which he said, ''There
are some complications there about value.''
(1) The
Premier stated that he expected to generate $2 billion from the current asset
sales program. What is the new amount that he expects to generate?
(2) What price does the Treasurer now expect to receive from
the sale of Utah Point?
(3) Does he
think it is wise to try to sell a publicly owned iron ore port at a time when
iron ore has undergone a significant decline in price?
AnswerView source ↗
I thank the member for the question.
(1)–(3)
The member answered his third question in his first question. The third
question was: do I think it is appropriate to sell an asset that depends
largely on iron ore with low iron ore prices? The first question was: why are
asset prices of those assets under risk?
Mr B.S. Wyatt : My
first question was: what do you now expect to get?
Dr M.D. NAHAN : No,
that was the second question. The issue is that two ports have been identified
for investigation for sale. No decision has been made. No price has been put
against them. Both of them rely very heavily on iron ore exports. Utah Point is
dedicated to small miners and Kwinana Bulk Terminal is largely dedicated to
iron ore, though it handles other materials. As the member indicated in his
third question, iron ore prices have declined. I am glad that he identified
that. Therefore, with the decline in prices and some of the risks to some of
those small ones, there could be a risk to the throughput of the project and
the value of the project. We are working on those things. We are examining
other opportunities in those ports. We will continue to examine those
opportunities. We never put a price to it. We have not booked it in the budget
and we will come to it when we do.
(1)–(3)
The member answered his third question in his first question. The third
question was: do I think it is appropriate to sell an asset that depends
largely on iron ore with low iron ore prices? The first question was: why are
asset prices of those assets under risk?
Mr B.S. Wyatt : My
first question was: what do you now expect to get?
Dr M.D. NAHAN : No,
that was the second question. The issue is that two ports have been identified
for investigation for sale. No decision has been made. No price has been put
against them. Both of them rely very heavily on iron ore exports. Utah Point is
dedicated to small miners and Kwinana Bulk Terminal is largely dedicated to
iron ore, though it handles other materials. As the member indicated in his
third question, iron ore prices have declined. I am glad that he identified
that. Therefore, with the decline in prices and some of the risks to some of
those small ones, there could be a risk to the throughput of the project and
the value of the project. We are working on those things. We are examining
other opportunities in those ports. We will continue to examine those
opportunities. We never put a price to it. We have not booked it in the budget
and we will come to it when we do.
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