ANNOUNCED AS TEMPORARYNo
FDI: Financial incentive
On 19 December 2014, the Western Australian authorities have extended the Magnetite Financial Assistance Program (cf. Related Measures) to junior iron ore mining companies. The scheme encompasses rebates of up to 50% for a maximum period of one year on hematite (an iron ore compound) royalties. However, the scheme will only be available if the price of iron ore remains below 90 AUD/tonne.
Similarly to the initial Magnetite Financial Assistance Program, the rebate will be awarded on a case-by-case basis.
The first rebates shall be available starting February 2015.
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