The QRC and the resources sector embraces renewable energy, not only as a supplier of electricity for operations, but as a market for the coal and metals mined.
Resource exports delivered over AUS$65 billion of the AUS$85.2 billion total exports of Queensland goods in the 12 months to the end of April 2019.
The QRC will now ask its member companies to consider the offer along with their request for the resources industry to contribute AUS$70 million to a Regional Infrastructure Fund over three years.
According to the QRC, there is no point to a trade mission to any of Queensland’s valued trading markets while there is uncertainty that new taxes will be imposed on resources.
US coal exports to Japan were at five year highs, and a royalty hike could make US coal more attractive than Queensland coal in the Japanese market.
The QRC is calling for the full support of the Queensland Parliament to support a strong future for all mining and resources projects.
“The Palaszczuk Government must reaffirm its support for the resource industry, with a commitment for long-term royalty stability and a fair go for all projects,” says QRC.
When asked if royalty uncertainty affected the likelihood of Queensland projects proceeding, 77% of respondents agreed.
The Queensland Government should rule out any increase in royalty rates applying to resource commodities, such as coal, metals and LNG, says QRC.
The Queensland Resources Council has forecast that royalties on both thermal and metallurgical coals were due to set a new record of AUS$4.46 billion this financial year.