The WA Chamber of Minerals and Energy has welcomed the State Government's commitment to industry consultation as part of a review of WA's mining royalty system.
The State Government today released the terms of reference and a stakeholder consultation paper for the Mineral Royalty Rate Analysis, with industry representatives and interested parties having until October 31 to make submissions.
Premier and State Development Minister Colin Barnett said the aim of the review was to ensure the State's minerals royalties operated fairly and efficiently, both for the mining industry and the resource owners, West Australians.
"It is important that royalty rates deliver a reasonable return to the community without discouraging production or acting as a disincentive to new investment," he said.
"Royalties are vital to the State's ability to provide the services and infrastructure West Australians expect."
The State collected $5.1 billion in mineral and petroleum royalties in 2012.
CME chief executive Reg Howard-Smith said royalty income from the sector now accounted for 21 per cent of government revenue up from only 5 per cent in 2003-04.
The Chamber said it would provide a strong industry voice to the Industry Reference Group which would also consist of senior representatives from both the Department of State Development and Department of Mines and Petroleum."CME looks forward to working with the State Government to ensure that industry's views are taken into account and that WA's resources sector remains internationally competitive, ensuring the continuing wealth of our state and the national economy," Mr Howard-Smith said.