Anglo American operate several mines across central Queensland, including the Moranbah North and Grosvenor mines.
"In a highly cyclical business, we need higher price periods to make these investments, which not only create jobs and support our regions, but also benefits the Queensland economy.Professor John Quiggin from the University of Queensland's School of Economics said the government's policy was a "good way of capitalising on current high coal prices, which are unlikely to be sustained".
She said Queensland coal was some of the "most efficient" and this move could "force buyers away from our market and to use a lower quality coal".
Japan, the largest buyer of Australia's thermal coal, endures breaking heat records in June... Climate change will bring the coal industry to an end. No one at ourabc covers climate change news Bowenchris.
everyone has to pay their way...
“'All of that $1.2 billion, and more, will be going into regional Queensland,' Mr Dick said.” Time will tell, but I’m calling bullshit to this. Labor do not care about anyone outside of SE corner
Mining industry slams tax on their mega profits is more appropriate synopsis
Mining industry slams as it cuts into executives bonuses & pay rises which is completely unacceptable as all this money shld not enable only 23m people from having free education, healthcare etc execs need more cars, flights & expensive toys greed is not good auspol qldpol
…but the ABC has told me for 10+ years that coal is a “stranded asset” and nobody wants it anymore?
It’s our resource. The Australian community should benefit appropriately
Mining companies have been reading too much chicken little. If it’s not economical to mine at the price the government (people of QLD) want for THEIR resource, stop doing it. They won’t though. If miners continue to mine and make billions, they’re not being taxed enough.
Industry ripping country off whines about only ripping off country a little less.
Have a sook cunt .jpg
The Climate Armageddon ABC/Greta's have been predicting for 30 yrs ain't happening even though man-made CO2 'plant food' has been increasing big-time, ABC's in denial about this, don't be stubborn denialists ABC/Greta's.
About time and should be 50% or more. They are our resources we own them. Think of the investment we could have in Qld hospitals, healthcare, roads, rail, schools and a more support for our remote and regional communities. I applaud the government for doing this.
Surprised by this, we will be using coal for at least 10 years some say 50 years. We now have the feds subsidising coal generators and the states penalising coal mines, go figure. 🤔
Oh.... But it's ok to increase their profits
They hate coal unless it can bail out socialist spending foxdoom71
We'd all be very worried if the miners and the Minerals Council thought it was a good idea. If that were the case, it would be very likely the QLD Govt were actually going to be paying them money. It's a good sign, miners hate it.
The sound of pigs squealing.
So in favour of royalty payments. Mining happy to take, not so keen on paying their way.
Of course they don't want to lose their profit margins; link royalties to a percentage of the sale price !
Remember Coal needs to be kept in the ground, as the scientists have been telling us for decades
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