In political circles, it’s called being wedged.

The headlines have been running for months about how BHP, which has led a mining industry revolt against the State Government’s audacious increase in coal royalties, had ruled out further growth investment in Queensland because the royalty increases made it less attractive compared with other jurisdictions.

That sounds horrific for the industry but what it means in reality is open to question. BHP won’t reveal what growth projects it has that could be affected and some in Government believe that’s because they don’t have any.

And the company has admitted it’s not about proposed projects being pulled or stopped and that it’s really about potential projects.

“We would not be in a position to share any projects that were on the drawing board but not public and/or sufficiently progressed. In any case (we) would contend that our point is not about proposed projects being pulled/stopped etc, but that the sudden change has meant any potential growth (or other major investments) would not compete with other jurisdictions,” a company spokesman said.

Treasurer Cameron Dick threw another hand grenade last week, claiming he would take away mining leases if BHP refused to invest appropriately in them.

It should be political dynamite. The industry should be storming the barricades (in a metaphorical sense) about a cost that was dramatically impinging on its profits. But the Japanese ambassador has had more to say about it than the Queensland LNP, which meekly surrendered before the brawl even started.

Individual companies have run dead on it because of the very real concern that they would face government retribution if they spoke out, which in itself is alarming, but that’s the wedge.

The Queensland Resources Council maintains that $100 billion in planned projects are at risk because of the royalties scheme. Glencore’s $2 billion Valeria thermal coal mine was sunk apparently because of it.

Given the nature of the industry and how hard it is now to secure debt and insurance for a coal project, plus the impacts of climate change on a company, the claims are hard to test, but it’s probably right that the royalties scheme made it tougher.

The risk BHP is running is the one Bravus (Adani) and New Hope faced.

Those companies faced years of delay in getting vital approvals because of the campaigns against the Government. The go-slow was an abuse of process at the very least and an act of bastardry in plain speaking.

That is now a very real threat to BHP. The Government won’t be in any mood to help it.

And that’s the wedge.

No one is rallying to the side of BHP to back up the claims of damage. Instead, they leave it to the QRC (which is what Adani and New Hope did) which has continued with its $40 million advertising campaign highlighting the impact. The QRC has also carried out letterbox drops in the key seats around Townsville, Mackay and Rockhampton where the mine workers live.

The indifference of the individual companies is a key feature of the mining sector. Mining companies view any other company as a competitor so they rarely speak out, which Treasurer Dick would have been aware of and is why the sector continually struggles against environmental activism and challenges.

Treasurer Dick appears to have won the latest round after BHP landed some hefty blows on the Government at a recent mining conference, when chief executive Mike Henry told the world’s mining industry that there were a lot of places better than Queensland to do business.

Dick said he welcomed BHP’s confirmation of their commitment to “continued expansion of their core suite of metallurgical coal mines in Queensland”.

“It’s no surprise that BHP are not looking to open new coal mines, given their decade-long focus on their current portfolio.”

Read into that what you will but it sounds like he believes BHP has no growth projects.

What’s at stake in this fight is significant and may be a long way from over.

It’s not widely known, but BHP recently returned to the fold of the Queensland Resources Council after suspending its membership over the organisation’s political role in the last state election when it campaigned against the Greens.

The company’s squeamishness over the QRC campaigning against a particular party at the last election may disappear by the time the next poll comes around.