ANNOUNCED AS TEMPORARYNo
FDI: Financial incentive
On 9 April 2013, Western Australia introduced the Magnetite Financial Assistance Program, introducing royalty payment rebates of up to 50% for the first year of magnetite production. Each mine in Western Australia is eligible for the programme but the rebate shall be determined on a case-by-case basis. The amount of the rebate is also determined on a case-by-case basis.
The programme will be in force for 3 years.
As magnetite is a specific compound of iron ore, only the 6-digit HS code 260111 was used for finding the affected trading partners. Investment in magnetite production in those trading partners may now be attracted to Western Australia.
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