Miner seeking $6m more from Broken Hill counc
Miner seeking $6m more from Broken Hill council
By Margaret Paul
Mining company Perilya says it hopes to be repaid another $6 million now it has lodged a second objection to land valuations in Broken Hill.
The company is already seeking nearly $6.88 million in overpaid council rates, after a court found the NSW Valuer-General overpriced its land in 2007.
The Valuer-General is appealing against that decision.
Late last month, Perilya officially lodged an objection with the Valuer-General's office for the 2010 valuation.
Visiting Broken Hill yesterday, the company's secretary and general counsel, Paul Marinko, says it is up to the Valuer-General to respond to that objection, but he thinks the company has been overpaying its rates between 2010 and 2012.
"We've done some back of the envelope valuations, and probably something in the order of maybe five to $6 million. It's a general number at this point but it'll be something in that order," Mr Marinko said.
"It's very similar to the objection we lodged to the 2007 valuation and it's simply an objection to the basis on which the valuation is made.
"So the basis of the objection is essentially identical to the 2007, and that's why we waited until after that decision was determined before lodging this objection."
Mining company surprised by valuations inquiry
Posted 4 hours 43 minutes ago
Map: Broken Hill 2880
The mining company Perilya says a parliamentary inquiry into land valuations has caught it by surprise.
The owner of the largest mine in Broken Hill says it was only told about the inquiry yesterday.
The managing director of Perilya, Paul Arndt, says the company is quickly putting together a presentation for when it meets with members of the inquiry today.
He says he has a lot of questions for them.
"Why this is being convened at such a pace and there's no sense of when that committee has to report back and subsequent submissions," he said.
"So we can give some preliminary thoughts - that's exactly what it would be.
The inquiry will look at how more than two million properties in New South Wales are valued.
It comes after Perilya had its land value overturned in court late last year - meaning the local council has to pay back almost eight million dollars.
The New South Wales Valuer-General is appealing against that decision.
Perilya's managing director, Paul Arndt, says his company now knows a lot about the legislation surrounding land valuations.
"We could give some fairly direct feedback on what we would see as being strengths and weaknesses of the both Act and the way that people choose to apply that Act," he said.