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Legislative Council - Fifty-Second Parliament, First Session (52-1)
2010-05-06 Daily Xml
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MINING ROYALTIES

The Hon. R.I. LUCAS (16:59): Why won't the minister answer the question as to whether, when he made this statement on 9 February, he was aware that his own government was looking at increasing royalties right across the board and not just in relation to Olympic Dam?

The Hon. P. HOLLOWAY (Minister for Mineral Resources Development, Minister for Urban Development and Planning, Minister for Industrial Relations, Minister Assisting the Premier in Public Sector Management) (16:59): It is the Hon. Mr Lucas's contention that this government has been considering royalties across the board. What I have indicated is that this government has been considering royalties as they apply to a couple of bigger projects. Let me point out for the edification of members that about 80 per cent of the royalties in this state come from Olympic Dam, and 90 per cent or more come from Olympic Dam and the OneSteel operations, so they are by far the biggest source.

We have made it clear that, if in the future of the Olympic Dam expansion, there was to be a move away from processing on site to offshore, where the value of the quantity would be much less, in order to protect the people of this state, as part of the overall benefits we would look at royalties. We have made that clear, and there is nothing secret about that at all. There has been no reason to do that. That is quite different from what the Leader of the Opposition was suggesting, which was an across the board increase.

The Hon. R.I. Lucas interjecting:

The Hon. P. HOLLOWAY: Well, that is what the honourable member asserts.

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