The Financial review 15th June 10 P 6 reports: "The West Australian Premier Colin Barnett has claimed BHP Billiton and Rio Tinto have agreed to pay .....the industry- standard 5.62% royalty on the value of their smaller-particle iron ore "fines exports, rather than the concessional royalty rate of 3.75% which they now pay."
"The lower rate was granted in the 1960s to encourage development when the state's iron ore industry was in its infancy".
Even if the Rudd RSPT is knocked in the head then the outing of this "concession" and its rectification is an unintended beneficial side effect.
Anomolies/rorts such as this are further evidence that we need consistent national standards; RSPT or no RSPT.
Moorooka Mick Missing youse all already
PS: Moorooka Mick is not and has not been a member of any political party and he has no direct beneficial interest in the above topic or companies mentioned.
