Specific rate royalties fixed for five years to support industry through COVID-19
|Date:||Monday, 25 May 2020|
- Specific rate royalties fixed for five years to support industry through COVID-19
- Cement, concrete and aggregate producers will benefit from the decision
Mines and Petroleum Minister Bill Johnston today announced that specific rate royalties applied to minerals used by Western Australia’s building and construction sector will remain at their current levels and not increase for the next five-years commencing July 1, 2020.
The McGowan Government’s actions provide further support to companies during the COVID-19 pandemic.
The unchanged rate royalties are Amount A (73 cents) and Amount B (117 cents).
Amount A includes aggregate, clays, dolomite, gravel, gypsum, construction use limestone, rock, (common) salt and sand; while Amount B includes: building stone, chemical use limestone, metallurgical use silica and talc.
This announcement follows the McGowan Government’s decision to streamline administrative procedures for the mining sector and reduce the Mines Safety Levy.
Comments attributed to Mines and Petroleum Minister Bill Johnston:
“The decision not to increase the specific rate royalty follows the McGowan Government’s $24.5 million package to help the building and construction industry maintain a skilled workforce and support apprentices and trainees.
“Producers of basic raw materials play an important role in Western Australia’s growth as they allow new homes to be built and new roads and railways to be constructed.
“Leaving the rate royalty at current levels reflects our commitment to helping our economy recovery post-COVID-19.”