Royalties deferral key in Grange move

THE state government will defer royalties worth $500,000 over the next three years for Grange Resources.

Deputy Premier Bryan Green revealed the deferral yesterday in a press release about Grange Resources’ decision to move its head office from Perth to Burnie.

Mr Green said the government’s royalties decision “was a key factor in securing the move”.

“This is a decision we didn’t have to think twice about.

“It is simply tremendous news for Tasmania and our mining industry,” Mr Green said.

“For a company of this size to move its headquarters to a regional centre is virtually unheard of these days”.

Mr Green said the decision was an enormously positive signal that Tasmania’s mining industry was open for business.

“With a market capitalisation of more than $220 million, Grange Resources is now the third biggest public company behind MyState and Tassal to have its headquarters in Tasmania.”

Mr Green said Grange would be relocating its headquarters from Perth, which will also secure more than 60 jobs at its corporate headquarters in Burnie.

“It is also great news for the 600 employees at Grange on the North-West Coast and the more than 400 contractors.

“Tasmania’s mining industry, particularly the heavily mineralised regions of the North-West and West Coasts, has an extremely bright future,” Mr Green said.

Grange Resources also announced to the ASX yesterday the company’s chief operating officer Wayne Bould had joined the board as managing director.

Mr Bould has been with Grange since 2008 and has more than 40 years practical and managerial experience in the petroleum, forestry and mining sectors.

Mr Bould is also the president of the Tasmanian Minerals Council.

He said yesterday the board’s decision reflected the strong confidence it had in the Tasmanian management and operations team.

“The move is a great coup for our region. It’s not too often that an ASX-listed company will relocate its corporate and listed office to a regional area such as ours.

“Importantly, the relocation will have significant benefits for Tasmania in securing Tasmanian jobs and providing a major confidence boost for the state’s economy,” Mr Bould said.

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