- Write by:
-
Wednesday, June 10, 2020 - 11:08:32 AM
-
674 Visit
-
Print
Mining News Pro - The Queensland Resources Council (QRC) is calling on the Queensland Government to freeze all resource royalties for the next decade in a bid to help the regions recover from COVID-19.
QRC reached an arrangement with the Queensland Government in May to keep the royalty rates of coal and minerals stable for three years, on the condition millions of dollars in contributions from QRC member companies would be supplied a regional infrastructure fund.
Under the arrangement, the Queensland Government would invest $30 million to improve economic and social infrastructure across resource communities, with leading mining companies expected to match the fund with $70 million voluntary payment.
QRC chief executive Ian Macfarlane asked the government to extend the royalty freeze on all resources to 10 years, which matches the commitment made by the Liberal National Party (LNP) as part of their election campaign last year.
QRC’s call follows yesterday’s announcement that the Queensland Government will keep gas royalty rates fixed for the next five years.
“The government has recognised that stable royalties provide greater investment and employment certainty for the resources industry. The LNP promised 12 months ago, if elected, it would stabilise royalties for 10 years,” Macfarlane said.
“The resources sector has been paying more than $5 billion in royalties to the Queensland Government to reinvest in services and infrastructure for all Queenslanders.
“The role of the resources sector is even more important to Queensland with COVID-19’s impact across the state’s economy. The resources sector employs one in seven jobs in Queensland and it contributes more than $220 million to the state’s economy each week.”
Short Link:
https://www.miningnews.ir/En/News/545383
A Russian arbitration court ruled on Monday that four units of Swiss commodities trader Glencore will pay more than 11.4 ...
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Chile’s state-run miner Codelco plans to select a partner for a future lithium project in one of the country’s top salt ...
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
No comments have been posted yet ...