The Western Australian (WA) Government announced the potash sector royalty rebate scheme in the 2022-23 State Budget would be extended.
The scheme will be extended to provide a non-repayable 50 per cent refund on royalties paid for two years to enterprises that sell their first sulphate of potash (SOP) before the end of 2027.
According to the State Government, no royalty rebate will be provided when the price of SOP surpasses $AUD1,000 per tonne on average throughout a quarter.
Minister for Mines and Petroleum Bill Johnston said the McGowan Government remains dedicated to helping Western Australia‘s potash and minerals in brine industry grow.
“By extending the royalty rebate to help this fledging industry, we will continue to create jobs and community development opportunities, particularly in remote Aboriginal communities,” Minister Johnston stated.
According to Minister Johnston, potash, a critical mineral in agricultural fertilisers, supports worldwide agriculture by shielding crops from disease and pests.
The McGowan Government said its sustained support for WA’s emerging SOP industry supplements previous aid, such as concessionary mining lease rentals and particular Mining Rehabilitation Fund levy rates.
SOP projects proposed for development in the State are projected to be long-term operations lasting 30 to 40 years, creating hundreds of employment and possibilities in remote WA towns.
 Government announced the potash sector royalty rebate scheme in the 2022-23 State Budget would be extended.){kind=link}