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Cancelled: How government suddenly found 40 million reasons to boycott resources forum

The State Government imposed a boycott on a resources sector forum and lunch today as relations worsened over its controversial royalty scheme.

Nov 23, 2022, updated Nov 23, 2022
Queensland Resources Council chief executive Ian Macfarlane. (Photo: ABC News)

Queensland Resources Council chief executive Ian Macfarlane. (Photo: ABC News)

Ministers and bureaucrats were withdrawn from the event as the Queensland Resources Council kicked off an advertising campaign attacking the Government’s royalty scheme which the industry expects will raise this year more than $4.5 billion more than Treasury forecasts.

The under siege resources sector also claimed it contributed $94.6 billion to the Queensland economy last financial year but was still being frozen out by the State Government.

Its campaign appears to be aimed at forcing its way back to the negotiating table.

The campaign was also boosted by the Ambassador for Japan’s keynote speech which highlighted the need for trust between the two nations and how the impact from the imposition of the royalties could spread to other sectors outside Queensland.

Ambassador Yamagami Shingo said Japan’s companies were yet to see any glimmer of hope despite meetings with the Treasurer Cameron Dick.

Queensland Resources Council chief executive Ian Macfarlane said last year’s forum and lunch attracted the Premier, the Deputy Premier and the Treasurer.

“What a difference a year makes,” Macfarlane said.

He said the campaign would highlight the huge risk to Queensland’s biggest export and the need for the Government to reconsider before the impact spreads to jobs and investment.

“It won’t be blood and guts … yet,” Macfarlane said.

The campaign has no defined cost but the QRC would not confirm or deny reports of a $40 million price tag.

That was enough to rile Premier Annastacia Palaszczuk who imposed the Government ban on the forum.

“The resources industry in this state is very strong. Last week I attended a lunch with energy companies and also last week met with Mitsubishi and one of the biggest players in the energy market in Spain,” she said.

“I make no apologies that next year I’ll be taking two trade missions, one focusing on energy over to Europe to get more investment into Queensland and the second will be a trade mission to South East Asia and South Korea.

“If they have $40 million for an advertising campaign – just think about that for a moment – I can build a special school in Queensland for $40 million; I can put money into housing with $40 million; I can put $40 million into a lot of good things, like a satellite hospital,” the Premier said.

“Let me make it very clear, I am extremely disappointed in Ian Macfarlane and his attacks on the government. Let me also say I have very strong relationships with a whole range of companies and I will continue to back resources in this state.

“Our trade with Japan has increased substantially. What I’ve said and continue to maintain that I’ve always given the Japanese government security of supply. That is very important when other countries around the world cannot give that security of supply.”

The Government also approved two coal mining leases in central Queensland today for Fortura Mines.

 

 

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