Western Australian State Government Reveals Plan to Help Iron Ore Miners

Mining Weekly reported that the Western Australian state government is looking to help iron ore miners by making amendments to the Mining Act and putting a freeze on port tariff increases at Utah Point in Port Hedland. Mines and petroleum minister, Bill Marmion, announced that the government will freeze any increases to port fees for at least the next 18 months, in an effort to assist iron ore miners in transitioning from construction to production.

As quoted in the market news:

The Minister told delegates at the Global Iron and Steel Forecast conference, in Perth, that amendments to legislation would remove duplication, inject greater certainty in decision-making processes, and would speed up decisions on projects.

Marmion on Tuesday also announced amendments to the Valuation of Land Act that would address anomalies which had inadvertently led to excessive rises on some tenements, a situation that was unforeseen by previous lawmakers.

Bill Marmion, mining and petroleum minister, commented:

We received strong representations from the Association of Mining and Exploration Companies and the Chamber of Minerals and Energy (CME) and we shared their concerns that these high rates are a disincentive for explorers in these challenging times.

Click here to read the full Mining Weekly report.