"...In the meantime, the West Australian government has amended the state's Mining Act to impose a 2.5 per cent royalty on Mount Weld production. Rare earths is a new industry for the state and the 2.5 per cent rate has been part of the assumptions surrounding the Mount Weld project since Lynas got serious with feasibility studies into its integrated development, with the offshore finishing plant, in 2005.
While the Malaysian finishing plant is dogged by local opposition, WA Premier Colin Barnett officially opened the Mount Weld mine in August last year, saying it gave WA a "stake in some of the 21st century's most exciting technological developments, and strengthen our economic links with Malaysia".
..."
So much for the "Australian government will protect their citizen..." bulls.
http://www.theaustralian.com.au/business/mining-energy/lynas-languishes-as-malaysian-radiation-protests-grow/story-e6frg9df-1226285564001
BalasPadam"...In the meantime, the West Australian government has amended the state's Mining Act to impose a 2.5 per cent royalty on Mount Weld production. Rare earths is a new industry for the state and the 2.5 per cent rate has been part of the assumptions surrounding the Mount Weld project since Lynas got serious with feasibility studies into its integrated development, with the offshore finishing plant, in 2005.
While the Malaysian finishing plant is dogged by local opposition, WA Premier Colin Barnett officially opened the Mount Weld mine in August last year, saying it gave WA a "stake in some of the 21st century's most exciting technological developments, and strengthen our economic links with Malaysia".
..."
So much for the "Australian government will protect their citizen..." bulls.