The Queensland Government's lucrative coal royalties scheme is taking so much money from mining companies that some are considering closing because they cannot be profitable.
Burton Mine Complex near Bowen is one that could shut down with 500 jobs on the line.
Coal Australia CEO Stuart Bocking told Peter Fegan on 4BC Breakfast, "In 2022-23, the then government, Labor government had collected $15 billion in the first year from coal mining royalties."
"To put that in some context, that paid for Queensland's entire police budget for that year, more than five times over."
"Now, based on those numbers, the Bruce Highway should be paved in gold."
"We need a sustainable royalty regime, not one that is sending GST south from Queensland, not one that is crushing regional in Queensland and just cutting investment off at the knees," Mr Bocking said.
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