Lynas To Pay Royalties on Mt Weld

IBTimes reported that Lynas Corp. (ASX:LYC) will have to pay approximately $18 million now that rare earth royalties have been introduced in Western Australia.

As quoted in the market news:

The 2.5 per cent tax was based on a formula that combines the market value of rare earth oxides and the number of units per hundred of REO in the rare earth elements containing-products sold.

Click here to read the full IBTimes report.