Queensland’s multibillion-dollar mining industry has labelled a new $520 million fund to help companies reduce their carbon emissions an “empty gesture” following the $15 billion coal royalties bonanza in Tuesday’s budget.

As the Queensland Resources Council vowed to pursue the Palaszczuk Labor government over the tax increase all the way to the October 2024 election, Treasurer Cameron Dick used a post-budget speech to double down on the state’s tough new coal royalty regime that reaped $15 billion this financial year alone.