Glencore's McArthur River Mine pays zero royalties once again; NT considers changes
Once again, mining giant Glencore has paid no royalties to the Northern Territory Government for its McArthur River Mine (MRM), a company report has revealed.
MRM, on the Gulf of Carpentaria, is one of the world's largest zinc deposits.
The mine has been plagued by problems since a waste rock fire in 2013 emitted toxic smoke, and there have been fears acid and metal drainage could contaminate fish in nearby waterways.
- The company's report on its payments to governments for 2016 showed it paid "$0" in royalties to the NT Government that year.
- its first report, for 2015 payments, also showed the company also did not pay any royalties to the NT Government that year.
- Based on the company's analysis, it's very unclear how you could come to a conclusion that the McArthur River Mine is even a net positive to the Northern Territory economy," report author Rod Campbell told the ABC
- The only known royalty payment of $13 million came in 2008 after a historic peak in the zinc price," the report said
- ATO data shows that despite $108,107,933 in taxable income, Glencore entities paid no company tax in 2014-15," the report said
No royalties, No tax, another great deal for the Australian people there !
Tags: leftwing.info, leftwing, news, australia, politics, political commentary, Environment, Politics, Mining, Australia, Glencore