Japanese Ambassador to Australia Shingo Yamagami says the decision to hike up royalties for mining companies may potentially trigger “widespread effects” on investing in Queensland.
The Queensland coal scheme proposes new higher coal mining royalties –drastically exceeding the previous top rate of 15 per cent.“I fear that this may have widespread effects on Japanese investment beyond the coal industry. The companies I mentioned earlier are involved not only with minerals, but hydrogen, infrastructure and a variety of cutting-edge technologies.”
Other mining countries in the world with much higher taxes seem to fare OK
Good, It's a national commodity and all the profits end up overseas. Of course they're gonna play sour if they have to pay more
The State Govt. has been doing its best to destroy the coal industry for years, this is just another example.