Ann: Amendment to Queensland Coal Royalty Regime, page-2

Surprised BCB decided to make this announcement price sensitive when other majors with similar announcements did not. Another trigger for already nervy investors to sell off for no good reason other than panic.

I bet Adani are having a good old chuckle right now after landing their royalty holiday back in 2020. Reportedly that holiday lasts for 5 years (to the best of my knowledge). Also from what I can glean off news reports, they are currently enjoying a royalty cap of $5 million per annum while Queensland companies have their profits taken away from them. Disgusting. Can you see Adani throwing money labours way in the next election? I think not.

I was reading in the news today that this year will be a fantastic year for the farming community with record rain and high prices providing a windfall to local farmers. This might be a bad comparison, however nobody in their right mind would think of taxing their higher than normal profits. Everyone knows farming is a high risk venture and any profits made in a good year will help to offset the many bad years. Same can be said of the mining industry.

My question, with the reportedly minimal consultation for the new royalty regime, is it likely at all that this will go to court? Can it even be tested in court on any basis? We all know Clive likes the inside of a court room.