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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.

Key Points

  • 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, labor, Environment, Politics, Mining, Australia, Glencore
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