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Appendix 1.6

Selected figures on operating results of Ranger uranium mine and Olympic Dam copper uranium gold mine

1. Ranger uranium mine - summary of income and expenses including payments to government and to traditional owners ($'000)

source: ERA operating accounts, submission 63 table 2.2

  1981/82 1982/83 1983/84 1984/85 1985/86 1986/87 1987/88 1988/89
REVENUE -
sales 145,992 261,178 246,136 233,779 215,469 232,341 251,300 177,516
total revenue 147,683 264,370 251,809 242,974 225,832 237,610 256,738 186,369
PRODUCTION EXPENSES -
wages 10,296 13,128 13,853 12,384 13,869 18,451 18,711 18119
total production expenses 37,045 61,341 59,977 59,258 58,924 68,254 66,133 55,627
PAYMENTS TO GOV'T & TRAD. OWNERS -
export levy 167 314 254 303 300 2,237 3,693 4,392
royalty to Cth 6,018 12,264 11,174 11,945 10,347 11,971 12,127 7,833
royalty to NT 1,897 3,636 3,286 3,513 3,403 3,567 3,461 2,304
rent to Gagudju Assn 200 200 200 200 200 200 200 200
other pay'ts to trad. owners 1,450 150 150 150 0 0 0 0
payroll tax 352 474 460 530 689 731 791 807
fringe benefits 0 0 0 0 0 379 607 643
OTHER EXPENSES 54,975 72,629 63,437 59,043 53,554 42,186 38,671 33,933
profit before income tax 45,579 113,362 112,871 108,032 98,415 108,085 131,055 80,630
income tax 7,721 55,969 55,534 53,395 47,991 49,197 67,985 42,876
net profit 39,209 58,864 57,337 54,537 50,424 58,888 63,070 37,754
dividends 13,400 33,500 51,250 41,000 41,000 41,000 41,000 61,500
  1989/90 1990/91 1991/92 1992/93 1993/94 1994/95 1995/96 cumulat-

ive total

REVENUE -
sales 206,898 210,407 170,459 159,505 152,178 140,034 180,350 2,983,542
total revenue 228,105 222,406 183,988 177,625 166,370 151,752 191,749 3,135,380
PRODUCTION EXPENSES -
wages 17,365 17,307 13,914 9,958 10,620 10,459 12,223 210,657
total production expenses 65,498 62,973 57,633 58,227 51,649 55,649 82,484 900,872
PAYMENTS TO GOV'T & TRAD. OWNERS -
export levy 3,893 3,443 4,510 1,538 1,208 1,556 1,521 29,329
royalty to Cth 8,474 7,998 5,995 5,341 3,923 3,763 5,905 125,078
royalty to NT 2,493 2,352 1,763 1,571 1,154 1,107 1,737 37,244
rent to Gagudju Assn 200 200 200 200 200 200 200 3,000
other pay'ts to trad. owners 0 0 0 0 0 0 0 1,900
payroll tax 848 861 734 714 747 718 876 10,332
fringe benefits 629 663 759 479 647 852 944 6,602
OTHER EXPENSES 20,240 42,312 43,305 37,027 62,561 52,483 39,522 715,878
profit before income tax 125,830 101,604 69,089 72,528 44,281 35,424 58,560 1,305,345
income tax 68,328 27,554 30,403 14,838 17,774 23,058 17,831 580,454
net profit 57,502 74,050 38,686 57,690 26,507 12,366 40,729 727,613
dividends 41,000 41,000 16,400 0 0 217,351 26,704 666,105
employees             215  

 

2. Olympic Dam copper uranium gold mine - select operating figures ($million)

source: Western Mining Corporation, pers. comm. 12 May 1997

  1988/89 1989/90 1990/91 1991/92 1992/93 1993/94 1994/95 1995/96
total assets 393 409 424.6 424.8 637.7 743.2 848.3 926.3
net sales revenue 34 99.6 121.3 130.3 187.6 298.3 367.7 445.6
operating profit before interest & tax 1.7 17.8 24.6 19.1 47.4 64.1 102 123.1

`Since production began in August 1988, Olympic Dam has returned about $60 million in royalties to the South Australian Government.

`The following figures illustrate costs and payments to government. They are for the 1995/96 financial year.

    salaries and wages $46.8m

    state royalties $10.6m

    state payroll tax $2.9m

    PAYE tax $15.1m

    other state & commonwealth taxes $3.5m'

[Copper accounts for about 75 per cent of the mine's gross revenue, uranium oxide about 20 per cent, gold and silver about 5 per cent: Western Mining Corporation, submission 74 p2]

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