Tough times may be rewarded with free ride
The Tasmanian government may defer royalty payments from a new iron ore mine in Tarkine region, to ensure future projects are encouraged.
Tasmanian Premier Lara Giddings wants to make sure Shree Minerals is not too put off by the lengthy approval stoush that unfolded when it tried to start its iron ore works in the Tarkine.
“I recognise the commitment of Shree Minerals to stick with this project despite the frustration we shared over the lengthy appeal process that followed approval of the mine by State and Commonwealth Governments,” Giddings said.
“The Shree mine is creating up to 120 new jobs and providing significant spin-offs for the North-West Coast and wider Tasmanian economy,” the Premier said, adding that working on a royalty deferment was a “priority”.
Court injunctions and conservationist outrage made it seem like Shree would never get digging in the Tasmanian rainforest, but after several rounds of ruling and re-approval, it has now been allowed to operate.
The site has just sent its first shipment overseas, sending 42,000 tonnes directly to China, a significant milestone for Tasmania’s ailing economy.
Because of the concerns raised during the protracted approval process, the Shree Minerals site is bound by 30 strict conditions relating to wildlife, sound, speed, clearing and safety requirements.