Please correct me if I am wrong, but my quick napkin calculation was approx ~$42 royalty on a coal price of $275 AUD based on the tiered system.
On thermal I'll use the current price of ~ $140 USD = ~$210 AUD.
coal royalty = ~$24. $24 = ~11.5%
NSW coal royalty is between 9%-11% depending on open cut vs underground.
Currently the QLD thermal coal royalty part isnt much more of a cost compared to NSW. In fact an open cut thermal coal mine in NSW pays probably the same royalties as QLD thermal coal mines.
Met coal obviously higher at approx ~15%.
I'm not sure that this isnt as unfair as its made out to be. The minerals belong to Queenslanders and as such should receive some compensation. I agree that a balance is required, but its not as if they are being driven to bankruptcy from these royalties.
Thats is of course if my quick math is correct. Could be wrong, please let me know if the calculations are significantly different from the quick estimations.
VS NSW
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