Boyce: Increased Coal Royalties Stifling Investment

Boyce: Increased Coal Royalties Stifling Investment

Federal Member for Flynn, Colin Boyce has slammed the Labor State Government’s coal royalty tax hike that is stifling investment in the resources industry, especially in the Flynn electorate. 

This is following a BHP announcement that the Blackwater South metallurgical coal mine will no longer go ahead and some mines could close earlier than expected due to the coal royalty tax increase. 

The mine was expected to be a $1 billion investment, create up to 750 construction jobs and 1200 operation jobs over a 90-year life as it extracted coal for steelmaking, with a construction start date of 2029. 

Mr Boyce said the royalty tax hike has been nothing more than an attack on investment for the resources industry.