Tuesday, 21 November 2017
The Greens (WA) spokesperson for Mines and Petroleum, Robin Chapple stated support for the proposed new changes to the Gold royalty hike.
Mr Chapple - who asked for small miners and prospectors to be protected from the gold royalty hike when it was first introduced – believes the new changes tie up some of the loose ends of the previous proposal.
“I still believe it isn’t fair for this Government to target the Gold industry on its own, however these changes are a reasonable step forward.
“I’m particularly glad to see the government has changed the 2500 ounce threshold so it now more closely resembles the condition first introduced by my colleague Giz Watson in 1997,” Mr Chapple said.
“When the gold royalty was originally introduced the 2500 ounce exemption only applied if the company remained below the threshold.
“Importantly, once a company moved past the 2500 ounce threshold they then had to pay royalty on the first 2500 ounces.
“These new changes mean the first 2500 ounces of gold produced by anybody will be exempt from the gold royalty increase.
“Also, the industry assistance program isn’t just a positive break for smaller miners, it is a great tool to ensure the accurate reporting of mining companies’ profit and losses,” Mr Chapple added.
Media Contact
Robin Chapple – 0409 379 263
