Comrade Colin’s royalty cheques arrive

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From The West Australian:

The WA Government has injected first financial aid for the State’s embattled iron ore juniors, with the Chinese-controlled magnetite producer Karara Mining receiving almost $2 million in royalty rebates.

It comes as the Government considers whether to defer the royalty payments due from small hematite miners, such as the embattled Atlas Iron and BC Iron.

Arise, ye workers from your slumber,
Arise, ye prisoners of want.
For reason in revolt now thunders,
and at last ends the age of cant!
Away with all your superstitions,
Servile masses, arise, arise!
We’ll change henceforth the old tradition,
And spurn the dust to win the prize!

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.