Qld Treasurer lashes out at $40m mining campaign

Treasurer Cameron Dick has hit out at the Queensland Resources Council’s new anti-royalty increase ad, saying there’s better places for them to spend their money.

Executives of some of Australia’s biggest mining companies have slammed the war of words between the state government and the resources sector, as Treasurer Cameron Dick digs his heels in over his controversial royalty increase.

Tensions between the government and the $96bn resources sector hit breaking point this week after Premier Annastacia Palaszczuk boycotted the Queensland Resources Council’s major annual event – and ordered her ministers to do the same.

It coincided with the QRC launching a new advertising campaign calling on the government to consider reversing a controversial increase to the mining royalty rate.

Bowen Coking Coal CEO and Ballymore Resources chairman Nick Jorss called for “consistency and investment certainty from all levels of government”, adding that the sector was currently “getting the opposite”.

“Adding more taxes to a sector that underpins our export economy and provides significant employment and tax revenue undermines long-term investment decisions in Australia, which not only risks jobs but will further crimp supply,” he said.

Queensland Treasurer Cameron Dick Picture: NewsWire / Sarah Marshall

BMA Asset president Mauro Neves said the company was unable to make significant new investments in Queensland due to the government’s increase to the royalty tax.

“We need a return to reasonable, sustainable and predictable policy so we have the certainty and confidence to make new investments in Queensland,” he said.

On Friday, Mr Dick said the government was “very disappointed ... in the (QRC) advertising campaign” but that “we’re not in a tit-for-tat”.

“The $40m the QRC is spending attacking our government when really they should be investing that money in improving the safety of mines, improving safety for mine workers and stamping out the scourge of labour hire,” he said.

Mr Dick also said he had consulted with the sector about the royalty increase.