A survey of resources leaders found the Qld government’s decision to increase coal mining royalties has impacted investment plans across a number of Queensland commodities – not just coal.
Queensland Resources Council chief Ian Macfarlane said “Most resources companies don’t just focus on just one commodity such as coal, so hitting the coal sector with higher taxes has had a scattergun effect across our industry and forced a rethink of investment plans.”
The report found CEO’s expect companies to look at investing in less-risky destinations than Queensland.
“The report shows how much the royalty hike has hurt not only Queensland coal projects but gas, base metals and critical minerals projects as well” Macfarlane said.
SOURCE: The Courier Mail, Aug 31 2022