The Australian newspaper reported on Thursday that Glencore had pulled the plug on a $2bn investment in Queensland.
Glencore was forced to make this decision 'in the face of the state’s royalty increases and the federal government’s industrial relations changes'.
In what can only be described as a major blow to the Queensland economy - this decision represents a significant loss of much-needed new investment as well as 1200 new jobs.
This is the first casualty in a potential loss of more than $100 billion of Queensland projects which are now hanging in the balance.
When will the Queensland Government realise that they need to sit down with industry to keep Queensland competitive?