Gold miners in Western Australia (WA) are dismayed at the government there reintroducing a higher production royalty with modified terms. The move will affect companies such as Gold Fields and AngloGold Ashanti. "There has been no consultation with the gold industry and we are disappointed by the media release by the government on resurrecting the gold royalty," said Stuart Mathews, the Gold Fields’ executive vice-president of the Australia region. "We remain opposed to a royalty increase that will impact jobs, investment in the WA gold industry, exploration and growth, and the sustainability of gold in WA. A royalty increase will reduce mines’ life, reduce production, cost jobs and ultimately mean much less revenue for WA. A strong gold sector where investment is encouraged will greatly assist growth for the state," he said in a statement. The West Australian government, which is looking to bolster its overstretched coffers by A$332m over four years, has proposed the introduction o...
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