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Miners' win in Labor swing

As Labor leader Mark McGowan celebrated becoming Western Australia’s 30th premier at the weekend, major miners BHP Billiton (AU:BHP) and Rio Tinto (LN:RIO) were probably also quietly popping the champagne corks.

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Labor’s Mark McGowan celebrates winning the state election on Saturday

Labor’s win ends WA Nationals leader Brendon Grylls’ much-publicised proposal to increase the “iron ore tax” on the state’s two big iron ore miners, from A$0.25 (US$0.20) a tonne to $5/t.