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Brendon Grylls’ iron ore royalty plan would benefit the state’s economy.

Grylls on right track over royalties

The proposal from Nationals WA leader Brendon Grylls to increase the royalties paid by Rio Tinto and BHP Billiton is not as ‘out there’ as it sounds. I say this not as a socialist, but as a capitalist who, as a resident of Western Australia, is an indirect part owner of the state’s iron ore reserves.

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City of Kalgoorlie-Boulder
Having previously worked in the state's senior executive service as a Director/CEO of a Development Commission, a number of senior staff within the Departments of Minerals and Petroleum and State Development volunteered the view that the State Agreements relating to Rio and BHPB needed modernising. Irrespective of where the rate settles i.e. 25c or $5/t, the public and industry discourse is a valuable exercise.

Great to see some balanced commentary on this proposal. It's a reasonable proposition and will meet the challenges created by the ridiculously inequitable GST carve up. Brendon Grylls is the only person that has a proposal on the table to resolve the state budget issues. The CCI seems to be proposing cut govt spending which means further job losses and shrinking the economy further, labor and liberal don't appear to have a plan at all.

Perth
A well thought out summary, not seen Brendon's argument presented so coherently before. It has made me re-think my position. Thanks.

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Total Shareholder Return as at 31/10/16

1 year TSR5 year TSR
376thRio Tinto12%-1%
481stWestpac-2%13%
490thTelstra-4%21%
501stCommonwealth Bank-7%14%
562ndWoolworths-19%-1%
709 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

13/12/13
$0 Bought
13/12/13
$90k Sold
03/05/13
$1k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st↑Woolworths$61,149.4m
2nd-Rio Tinto$49,225.3m
5th-Commonwealth Bank$27,005.0m
6th-Telstra$26,607.0m
7th↑Westpac$21,642.0m
77 listed non wa companies ranked by revenue.
Source: Morningstar

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