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ANNOUNCEMENT 19 Dec 2014
In December 2014, the government of Australia announced changed incentives for foreign investors entering the country.NUMBER OF INTERVENTIONS
2
SOURCE
Government of Western Australia information on the assistance programmes
http://www.dmp.wa.gov.au/11857.aspx
Secondary Sources
http://www.abc.net.au/news/2014-12-19/junior-miners-offered-royalty-relief/5980634
http://www.abc.net.au/news/2014-12-12/wa-government-looks-at-assisting-junior-miners/5964804
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.
AFFECTED SECTORS
AFFECTED PRODUCTS
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.