New Regulation Charges Royalty to Western Australia Rare Earth Producers

Bloomberg reported that Western Australian rare earth producers will have to pay a 2.5% royalty on production.

As quoted in the market news:

Lynas Corp., which produces rare earths from its Mount Weld mine in the state, may be liable for about A$17 million ($18 million) a year in royalty payments as a result of the regulation.

Click here to read the full Bloomberg report.