BHP settles dispute over iron ore royalties with Western Australia in $175m deal

The claimed discrepancy was discovered during a government audit in January. At the time, authorities said the payments stretched back over more than a decade. BHP settled last year a similar dispute with the Australian Taxation Office (ATO) regarding taxes owed by its Singapore hub over a 15-year period. “This settlement resolves the dispute with BHP, and I’m pleased we’ve been able to negotiate a very positive outcome for WA taxpayers,” Western Australia Premier Mark McGowan said in a statement. The state will use A$230 million of the payment towards building a new women’s and maternity hospital that will replace the King Edward Memorial Hospital. A further A$15 million will be allocated for improvements at Hedland Senior High School, and the final A$5 million will be spent on upgrades for Newman Hospital, including extra beds and an expanded procedure room. In November, BHP settled a dispute with the Australian Taxation Office, also related to the miner’s Singapore marketing hub, paying A$529 million and agreeing to change the division’s ownership structure. The Tax Office had initially claimed the company owed $1 billion. source: MINING.COM

BHP settles dispute over iron ore royalties with Western Australia in $175m deal

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