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Western Australia May Ask BHP, Rio to Cash Out Iron Ore Levy
Western Australia may ask Rio Tinto Group and BHP Billiton Ltd. to pay potentially billions of dollars to end a mining rent tax to help patch a budget decimated by lower commodity prices. The state government is seeking advice on a proposal that would see the nation’s two biggest minerspay out an iron-ore levy early in a one-off lump sum, State PremierMark McGowan said Sunday. The opposition National Party last week said in parliament that such a plan could raise as much as A$4 billion ($3 billion) for the state, whichhosts the giant Pilbara iron ore mines. “We have a very major budget issue in Western Australia ... (full story)
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