Presentation - Keynote Address, Stockbrokers Association of Australia Conference

Stockbrokers Association of Australia Conference - Wednesday, 9 June 2010 - Crown Promenade, Melbourne - by Mitchell H Hooke Chief Executive Officer, Minerals Council of Australia

Underpinning Australia’s Economic Performance….

  • Two and a half decades of free market economic reforms
  • Australia’s unique position as a global supplier of minerals
  • The critical role of China’s stimulus package in reinforcing minerals demand
  • The regulation of Australia’s financial system
  • The Government’s fiscal stimulus package
  • Government’s early commitment to national capacity building

Current Minerals Royalty Arrangements….

  • The method of levying royalties for the same mineral differs across States
  • Rates differ for the same mineral across States
  • In some cases, rates differ for different mines extracting the same mineral in the same State
  • Volume royalties are usually imposed on low value minerals and
  • There is no uniformity in the legislative base adopted by the States

Royalty Reform Principles….

  • Prospective
  • Internationally competitive
  • Equitable and efficient
  • Differentiated
  • Minerals resource based
     

 

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