Queensland Resources Council news

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.

Queensland coal exports contributed AUS$36.3 billion – an increase of AUS$5 billion or 16% over the previous 12 months.

Macfarlane said the resources sector contributed AUS$6.3 billion to the gross regional product in the Flynn electorate, which includes the energy powerhouse of Gladstone.

The groundwater management plan approval is another milestone in the Carmichael coal project’s almost nine year approval process.

Strong global demand for Queensland’s high quality resources has enabled the industry to get on with creating jobs.