Tasmania Minister for Resources Guy Barnett

Royalty Revenue Rebounds Strongly

Victor P Taffa

Mining and mineral processing is responsible for about half of the State’s export revenue and provides thousands of jobs, directly and indirectly, particularly in regional Tasmania, Minister for Resources Guy Barnett said.

“Today, I am pleased to advise that the industry is also expected to make a direct contribution to the State’s finances of about $40 Million in royalties this year, helping to fund our hospitals and our schools.”

“That’s a significant increase on the $15 Million received in 2015-16 and shows that the sector has turned the corner after a period of unfavourable commodity prices.”

A total of $39.7 Million has been collected so far this year, while the estimate for 2017-18 is for royalties of $41.1 Million.

About 93 % of the royalty revenue comes from 3 major mining companies:

• Grange Resources,
• MMG,
• Bluestone Mines Joint Venture.

“In the past year we have seen more positive developments in the mining industry.” Mr. Barnett said.

A highlight was the reopening of the Henty mine, near Queenstown, which has created more than 100 new jobs.

There are also hopes of a new tin mine at Zeehan with the mining lease for the Heemskirk project approved.

“Demonstrating our support for the industry and for the West Coast, the Hodgman Government is investing $9.5 Million in a support package to help with a potential restart of the Mt. Lyell mine.” Mr. Barnett said.

A reopened mine would provide hundreds of jobs and support the local economy, while making a strong contribution through royalty payments as it has over the past more than 100 years.

Hodgman Government is the strongest and most consistent supporter of Tasmania’s mining industry.