Queensland Treasurer Cameron Dick said the relationship with Japanese coal companies, who are angry about the royalty increase, can be fixed.
, despite promising during the 2020 state election campaign there would be no new charges this parliamentary term.
Although not happy with the royalty hike, Japanese miners – who have paid billions in royalties and taxes to state and federal governments over decades – were equally affronted over Mr Dick’s post-budget comments saying taxes would not affect Queenslanders, but foreign companies. Companies such as Mitsubishi – whose BMA joint venture with BHP covers several coal mines in the Bowen Basin – have operated in Queensland for 60 years. BMA is likely to pay an extra $1 billion a year in royalties into state coffers.Other Japanese companies such as Mitsui have a stake in three coal mines in Queensland with Anglo American as well as another joint venture at the Kestrel mine.No Japanese miners wanted to comment on Thursday.
Mr Yamagami said the coal royalty increase could damage the trust between Japanese companies with investments in Queensland.“I fear that this may have widespread effects on Japanese investment beyond the coal industry,” he said in a speech at the University of Queensland. “The companies ... are involved not only with minerals but hydrogen infrastructure and a variety of cutting-edge technology.miners would pay $14 billion in coal royalties to the Palaszczuk government this financial year“These comments would have been cleared by the Prime Minister’s office. They would have come all the way from the top,” Mr Macfarlane told“The comments Dick made about foreign companies paying the tax, not Queenslanders, really upset them.
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