Statement by Ian Macfarlane, Chief Executive, Queensland Resources Council

Friday, 24 June 2022

“The Queensland Resources Council (QRC) notes today’s release of the Queensland Resources Industry Development Plan and thanks the Department of Resources for its involvement in the development of the plan.

Unfortunately, a Queensland Government 30-year plan isn’t worth the paper it’s printed on when the rules for investment in Queensland’s resources can change overnight.

Following this week’s budget announcement that coal royalty rates will increase astronomically from next week (July 1), we now know the Queensland Government’s plan for the resources sector is to increase taxes, short-change resources communities and drive away jobs and investment.

The resources industry is Queensland’s economic backbone, supporting the jobs of more than 422,000 people, and last financial year contributing $84.3 billion to the state economy.

This foolish decision to over-tax our sector will lead to projects being cancelled, put on hold or reduced and lead to job losses, particularly in regional areas.

The resources industry completely opposes the astronomical coal royalty increase announcement made this week by the Queensland Treasurer and calls on the Palaszczuk Government to end its assault on the Queensland resources sector’s future viability, which threatens the viability of regional Queensland.”

Media contact: Rachel Stewart – [email protected] or 0408 130 767

The QRC is Queensland’s peak body for coal, metal and gas explorers, producers and suppliers across the resources sector. The resources sector contributes one in every five dollars to the state economy, supports one in six Queensland jobs, supports more than 15,000 businesses and contributes to more than 1,400 community organisations – all from 0.1 percent of Queensland’s land mass.