Original article by Paul Garvey
The Australian – Page: 17 & 20 : 1-Jul-19
Northern Minerals has spent $210m to date on its Browns Range rare earths project in Western Australia’s East Kimberley region. MD George Bauk says a dispute with the Australian Tax Office over a $10.8m research and development tax rebate nearly saw the company collapse in early 2019. The ATO also demanded that Northern Minerals repay $13.4m worth of previous R&D rebates. Bauk maintains that the Browns Range processing plant is an R&D site, as the technology it uses is still being developed and improved.
NORTHERN MINERALS LIMITED – ASX NTU, AUSTRALIAN TAXATION OFFICE, LYNAS CORPORATION LIMITED – ASX LYC, WESFARMERS LIMITED – ASX WES