Queensland Resources Council urges politicians to have ‘grown-up policy contest’ over coal royalties in election lead-up

With Queensland’s royalty revenue cash grab from coal tipped to double to $12.8bn this financial year, the miners’ peak body has flagged “real uncertainty around the policy environment” before this year’s state election.

Politicians have been urged to have a “grown-up” contest at the October election as the state’s biggest money-making industry pledges to continue its war against the government’s coal royalties scheme.

Queensland Resources Council economics policy director Andrew Berger used a Queensland Futures Institute breakfast to slam the ongoing policy uncertainty he said had been caused by the state government over coal royalty increases.

The Queensland Resources Council is continuing to wage its war against Labor and Treasurer Cameron Dick for a 2022 decision to increase coal royalties, but warnings of fewer jobs and resources investments are yet to substantially materialise.

The Bravus Carmichael coalmine in the state’s North Galilee Basin. Picture: Cameron Laird

But Mr Berger said miners were becoming increasingly concerned.

“Investment demand for all our products is very good and there’s lots and lots of investment in the new areas of critical minerals and rare earths and battery metals,” he said.

“At a macro level, it looks like the world’s our oyster, but when you talk to customers, investors and producers, there’s real uncertainty around the policy environment.”

Mr Dick’s mid-year budget updated noted coal royalty revenue collected by the government would climb to $12.8bn this financial year, more than double the $5.3bn expected.

He has repeatedly trumpeted the government’s coal royalties increase, which delivered $15bn into state coffers in 2022-23 and has been used to fund renewable-energy investment and cost-of-living relief.

“We are delivering the biggest energy rebates in the country – those rebates are providing a minimum of $550 off every Queenslander’s power bill, funded through the public ownership of energy assets and funded by progressive coal royalties,” Mr Dick said.

AgForce chief executive Michael Guerin, Picture: Aden Stokes

Treasurer Cameron Dick. Picture: Evan Morgan

Mr Berger said the Queensland Resources Council would remain “on the front foot” in its lobbying and called for a “grown-up policy contest in the election campaign … an actual debate about what the future of Queensland might look like”.

“Well over 80 per cent of Queensland’s revenue comes out of our resources industry,” he said.

AgForce chief executive Michael Guerin told the Queensland Futures Institute breakfast the tight state election would be beneficial for the farming sector.

He said called on politicians to call out the “lies” being peddled by animal advocacy groups he said was turning youth away from the sector.

“It’s a really important conversation that we need to have to ensure that food security we’ve taken for granted for a number of generations remains in place and recognise that the agricultural industry can – concurrently with producing food and creating jobs and economic activity – can also being very powerful part of the climate and environment solutions,” he said.

Mr Guerin said addressing “soul-destroying” lies about Queensland being a deforestation “hotspot” was critical to stopping young people being driven away from the industry.

Originally published as Queensland Resources Council urges politicians to have ‘grown-up policy contest’ over coal royalties in election lead-up