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CME statement on iron ore ‘levy’ commentary

The Chamber of Minerals and Energy of WA (CME) welcomes today’s announcement by Federal Resources Minister Keith Pitt that no consideration would be given to placing a levy on iron ore exported to China. 

CME Chief Executive Paul Everingham said he understood the Senator for Queensland Matt Canavan had probably made the levy suggestion thinking it might assist the industry but explained that such a measure would negatively impact on the competitiveness of WA’s iron ore miners. 

“CME and its member companies welcome the commitment from Minister Pitt that there will be no consideration of such a levy,” Mr Everingham said. 

“I understand Senator Canavan made the suggestion at a time when some commodities face uncertainty around exports to China.  But to place a levy on iron ore exports from Australia will simply see buyers like China purchase more iron ore from competitor countries like Brazil. 

“This, in turn, would have adverse impacts on both the WA and Australian economies. 

“Like Minister Pitt, CME and its member companies support the following of international trade rules.”