Toro uranium company to press W.A. govt for exemptions to royalty payments?
Toro managing director Greg Hall said he would examine the proposal and consider approaching the government for possible exemptions
State royalty plan hits Toro hopes for uranium project, THE AUSTRALIAN, SARAH-JANE TASKER , July 21, 2011 TORO Energy’s plans to become the first new uranium miner in Western Australia have been hit by news the state government will force the emerging industry to pay a royalty.
The Adelaide-based junior said yesterday the environmental assessment on its Wiluna project would be open for public comment from Monday, which would make it the first of Western Australia’s new uranium projects to reach that important milestone.
But the news was overshadowed by Mines Minister Norman Moore announcing the state would introduce a 5 per cent royalty on uranium and magnetite iron ore — a lower grade than the more widely known Pilbara ore.
Toro managing director Greg Hall said he would examine the proposal and consider approaching the government for possible exemptions in the early stages of the project’s development.
Mr Moore said it was estimated the state would receive about $10 million in 2013-14 and $28m in 2014-15 from uranium royalties……
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