Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Western Australia Introduces 2.5% Royalty on Rare Earth Mining

Feb. 29 (Bloomberg) -- Western Australia will impose a 2.5 percent royalty on rare earth production as part of changes to the state’s mining regulations.

The royalty was included in its Feb. 24 amendment to the 1978 mining act, according to a statement on the West Australian government website.

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, the Australian Financial Review reported today. Lynas wasn’t immediately available to comment, according to Alan Jury, an external spokesman for the company who works for FTI Consulting.

To contact the reporter on this story: Soraya Permatasari in Melbourne at soraya@bloomberg.net

To contact the editors responsible for this story: Rebecca Keenan at rkeenan5@bloomberg.net; Andrew Hobbs at ahobbs4@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.