Tag: royalties
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The voice of mining bows out as sector brands itself state’s economic powerhouse
The industry report card found that represented an annual increase of $6.0 billion, or 68.4 per cent, although the QRC said this was a conservative figure as not all companies disclosed royalty payments. The industry is still fighting the State Government over the huge impact in coal royalties and Treasurer Cameron Dick said there were…
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Running over and over: Coal, payroll tax deliver huge surplus for Queensland
The result is $1.6 billion more than anticipated due to the Federal Government making advanced payments for disaster relief and social housing. It also meant the Government could reduce the amount it needed to borrow. The surplus eclipsed the previous best ever result only the year before of $4.284 billion. General Government sector borrowings at…
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Bowen considers Isaac River sale after mine shutdown
The company recently announced it would put its Bluff mine on care and maintenance and in an investor update today the company revealed it had taken further steps to cut costs including job reductions. It had also deferred its royalty payments to the State Government “over a 12-month payment plan”. “Bowen continues to consider other…
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Budget boost as coal price booms again; but big Queensland mines stall
Stanmore said the price increased from $US233 a tonne at the start of the September quarter but finished at $US333 a tonne at the end. Since then it had increased further. “With generally favourable weather conditions, Queensland operations have recovered to a position of stable supply for most grades,” the company said in its production…
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Treasury reveals NSW coal royalties hike to be higher than Queensland’s
The analysis provided to In Queensland follows the NSW decision this week to impose a 2.6 per cent increase in its royalties from July next year with the expectation that it would deliver about $2.7 billion in revenue over four years. It follows moves by Queensland to introduce higher royalties for its coal, but rather…
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NSW follows Queensland lead by hiking coal royalties for first time in 15 years
The decision was expected to add more than $2.7 billion to the NSW revenue over four years and was welcomed by Queensland Treasurer Cameron Dick. “Under the LNP the people of NSW missed out on their fair share from record coal prices,” he said. “Great to see the NSW Labour Government delivering.” The NSW regime…
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Coronado shares, earnings dip despite future of strong demand
Shares in the company, which owns the Curragh mine in central Queensland, fell 11 per cent when the market opened this morning. Coal prices continue to be above historical levels and the company has been tipped to be a buyer of one of BHP’s central Queensland mines, but Coronado said it was pursuing organic growth…
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The price is light: Coal price falls but Coronado still rakes in $1.5 billion
The company, which also owns mines in America, said its sales increased 8.3 per cent in the June quarter while prices dropped almost 30 per cent, but still ended the year at $US233 a tonne ($A343), which would keep it in the top royalty bracket. Prices from the Curragh mine were $US239 a tonne, reflecting…
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Miner disagreement: BHP boss delivers brutal public slap down to Premier
At the World Mining Congress in Brisbane Premier Annastacia Palaszczuk announced a critical minerals policy and talked up the state’s potential for mineral development and said her Government backed the resources sector. Her speech was aimed at showing the world’s mining industry the opportunities and support the Government was prepared to make for critical minerals…
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Coronado looks to expand despite tripling payout to Government
Coronado chair William Koeck said it had paid $US494 million ($754 million) to the State Government and the government-owned Stanwell Corporation in royalties and rebates. “This was more than three times higher than 2021,” Koeck said. “This increase in coal royalties was disappointing news for our Australian operations and we believe has the potential to…