NSW Slugs Miners with Royalties Hike

NSW Premier Barry O’Farrell will today follow Western Australia’s lead and increase mining royalties in the state budget.

In yet another hit to miners, Treasurer Mike Baird said the royalties rise would only apply to companies subject to the Federal Government’s minerals resources rent tax.

As Canberra is promising to refund state royalties to companies under the MRRT, the bills for the rises will ultimately be picked up by the Commonwealth.    Read More

Australian Mining