‘Roll out the welcome mat’: Crisafulli’s announcement spree to prove royalties critics wrong
The Queensland Premier has been on a mining project announcement spree this week, spruiking billions of dollars of investment in the sector to dispel criticism government policies had led to widespread job losses.
On Wednesday, it was a deal between European and Japanese investors in Bowen Basin coal mining ventures, with Argo Queensland acquiring a 70 per cent stake in Fitzroy Australia Resources.
Crisafulli said the deal — which he said would deliver 1000 jobs — was a result of his trade mission to India and Japan in September this year and will support the future of the Broadlea, Carborough Downs and Ironbark mines in Central Queensland.
“I am determined to make sure that we roll out the welcome mat to show the globe that Queensland is a safe place to invest, a safe place to do business, a place where a government will treat you with respect and decency and be prepared to grow with you,” he said.
It’s been an announcement spree for Queensland’s leader this week. Credit: Catherien Strohfeldt
It was the third such announcement made this week in the lead-up to Crisafulli’s speech at an event held by industry lobby Queensland Resources Council (QRC) on Wednesday.
On Monday, Treasurer David Janetzki announced a $662 million dollar investment in an extension of Peabody’s Centurion Mine, north of Moranbah, which the coal company said would bring about 525 jobs.
The next day it was a $2.3 billion investment in a new copper mine in north-west Queensland by South African miners Harmony Gold, which would deliver 1450 jobs at the Eva Copper Mine north of Cloncurry.
“Today’s announcement is a show of confidence in Queensland’s critical minerals sector and our construction of CopperString from Townsville to Mount Isa, which has also been supported by the $200m North West Energy Fund recently announced in our Energy Roadmap,” Janetzki said of that deal.
Janetzki said the deals were a vote in confidence for the government’s approach from the industry.
“We are seeing a return of confidence to the most important sector underpinning the Queensland economy,” he said.
However, in September, BHP announced it would cut 750 jobs from its Queensland operations, pointing the finger at the state’s coal royalties regime.
The Crisafulli government has said it will not make royalties changes amid warnings from industry it would impact how many workers they can keep on the books in down periods.
“The simple fact is the Queensland coal industry is approaching a crisis point,” Adam Lancey, president of BHP’s alliance with Mitsubishi, said at the time.
“This is now having real impacts on regional jobs, communities and small businesses.”
Coal royalties put $31 billion into Queensland government coffers between 2022-23 and 2023-24 financial years, but have since fallen off. The most recent budget forecast the state would only receive $6.2 billion from royalties this year.
On Wednesday, QRC chief executive Janette Hewson said the coal sector had lost more than 1000 jobs since July, and more tough times lay ahead.
“We can see a decrease in direct spending in some key resources regions, and this could be a signal for tougher times ahead in the coal sector,” she said.
However, Hewson was encouraged by the government’s announcements this week.
“It goes to show that when industry and government work together, we can solve some of the headwinds for the good of the sector and for the benefit of all Queenslanders.”
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