Western Australia 2018 budget: lithium leaps ahead in Western Australia calculations.

Western Australia state relies on lithium rush to help the management of a record $4.7 billion of treasury bonds and investment banking lithium project, which is ongoing or are preparing to create new jobs.

In the past two years, lithium is particularly prominent in royalties prediction in the country.

Although iron ore continues to support the western economy, but the budget forecasts 2017-18 all other goods of the royalty income increased $160 million, a record $724 million.

Lithium record gains ahead of the $65 million fee. Of iron ore next year commodity royalties to predict increased to $834 million, is mainly due to the ministry of finance will increase from $41 million to $131 million lithium royalty, gold royalties increase of $36 million to $315 million.

Nickel in just two years is expected to be more than nickel, copper and aluminum oxide, become the largest iron ore in western Australia (2018-19 years is us $4.22 billion) and gold ($315 million) in royalties cash cow.

The treasurer, the Wyatt said 15 lithium project is under construction or in various stages of planning, on behalf of a potential investment of $4.7 billion.

Research shows that Western Australia lithium project the number of full-time staff has been increased from 399 in December 2014 to more than 2600 people.

bitter

Association of mining and exploration companies said the latest data confirm, industrial and mining use supported by the state budget, contributed $5 billion, accounting for 17% of the total revenue, and will continue to do so.

The industry was pleased to see in the gold industry with plans to raise interest rates last year plan after the conflicts, the royal system without any change.

"Warren Pearce AMEC chief executive said:" we are very pleased to see that not suggest modify royalty system, it provides a much-needed certainty to the industry."

"It reflects the state of responsible financial management. In the volatility of the global market, the company needs to be under the future royalties system to determine the long-term investment and business decisions."

The mining industry has not escaped damage. Budget includes the increase of about $65 million in fees, charges and taxes on the industry as a whole.

Mr Pearce said very successful exploration rewards programs will now by improving the mining rent back and recover all costs, this is disappointing.

For the increase of the age and the existing mining right fee (2018 to 6% in 2018 and 6% in 2019 to 20) the structure of the arrangement will minimize city to assess the effect of the purpose of property valuation, and reduce the impact on the exploration of leasing company has a new exploration.

Resources industry has lost its training fund exemptions for construction industry, is expected to raise $25 million.

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