The decision means investment into the new Blackwater South coal mine in central Queensland is now paused.
Queensland Treasurer Cameron Dick has defended changes to the state's resource royalty scheme after mining giant BHP blamed the rises for pausing new coal investments in the state.
In financial results published to the ASX, the company also stated the royalty changes, along with the long-term outlook for metallurgical coal, could lead to other mine sites closing earlier than "previously anticipated"."This further cost pressure is expected to discourage investment, operational growth, job creation and local business spending across the state," the report said.Previously, royalties were capped at 15 per cent for prices above $150 a tonne.
BHP's financial documents stated the royalties it paid to the state represented about 25 per cent of the budget's non-GST and grants-related revenue.
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