NSW’s coal miners will pay significantly higher royalties from next year. Now they want something back.
NSW’s coal miners are bristling about their 30 per cent royalty hikes, but deep down they will know it could have been much worse.While it was a relatively short consultation period, and they felt like the starting point was that the government would bump up royalties either way, at least they got a chance to put their arguments forward.
And finally, at least it brings the situation to a close. Royalty hikes had been on their radars for years, having not been increased since January 2009, and the Minns government’s decision should see royalties stay put for a while. And if the government is going to take from the sector to rebuild the state’s essential services – nursing positions, affordable housing, teachers, etc – then it should listen.
Glencore was out in front on that issue on Wednesday, as it often is. Whitehaven hinted at it, saying the state needs to “look harder at ways to improve productivity and make it easier to invest”.The miners have plenty of arguments about propping up local communities and small businesses, providing jobs and company tax for the commonwealth budget, and the government would have heard them all as part of recent meetings, written submissions and roundtable discussions.
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