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SMH reported West Australian Premier Colin Barnett says there is ”argy-bargy” with BHP Billiton (NYSE:BHP,ASX:BHP) over raised iron ore royalties.
SMH reported West Australian Premier Colin Barnett says there is “argy-bargy” with BHP Billiton (NYSE:BHP,ASX:BHP) over raised iron ore royalties.
The market news is quoted as saying,
In the May budget, the WA government announced it would bring the royalty rates of iron ore fines, a crushed form of the mineral, in line with lump iron ore.
While the smaller miners such as Fortescue Metals Group and Hancock Prospecting will automatically pay the increase, the government needs to change state agreements with BHP and Rio Tinto.