Massive Royalty Increase an Economic Disaster for the Territory
This morning the Northern Territory Government announced major changes to the Territory's mineral royalty regime delivering a massive increase in royalties for mining projects.
"This massive royalty increase will be an absolute disaster for the
"This decision immediately threatens the viability of
"Many of these mining projects will simply no longer go ahead."
"At a time when the
"The mining industry in the
"It will drive mining investment away to other States, and Territorians will be denied thousands of new jobs, millions in new royalties, and will watch their economy continue to decline."
"The
"This decision will make it one of the most expensive places in the world to develop a mining project."
"Regrettably, today's decision may well see investors and industry turn their back on the Territory for another decade."
"The Territory needs to grow its economy and the best opportunity to do this is through the greater development of the resource sector."
"There is still time for Government to reverse this disastrous decision and industry have offered to engage with government to develop a modified proposal," said
View the factsheet below for further information.
NT Royalty Increase Factsheet (javascript:__doPostBack('ctl01$TemplateBody$WebPartManager1$gwpciNTRoyaltyIncreaseFactsheet$ciNTRoyaltyIncreaseFactsheet$FileLink',''))
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