I originally felt the same about coal royalties, but when I started to think about it, I realised that Australian resources belong to Australia and all Australians.
Sure, the coal companies dig it all out and deserve to be rewarded, but it's our (Australia's) asset and they don't deserve all the profit. We definitely should not be just giving them our resources for free. particularly as many of these companies are heavily foreign-owned.
Besides, even with the coal royalties, they're still making a motza!
For the record, I am a YAL shareholder and a proud Australian! Coal/energy stocks make up a solid % of my portfolio.
Ann: Company presentation, page-322
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