Newcrest Mining Ltd
(ASX:NCM) has won a high court case against the New South Wales Government over royalty payments, by its subsidiary Cadia Holdings, at the company's mines in Orange.
According to Fairfax Media, almost $11 million in royalties, plus interest and legal costs will be returned to Newcrest, after the court ruled the state government could not charge the miner the same royalty for both copper and gold, which it sources from the same mines.
The court ruled the copper was privately owned, as opposed to the gold, which belongs to the crown, and therefore is the part liable for royalties.
Cadia had paid royalties on the copper for ten years.
Newcrest Mining increased its net profit after tax in 2009 with a $248 million result.
