Interesting series of posts, thanks. Congratulations on buying...

Interesting series of posts, thanks. Congratulations on buying this in the 60’s and 70’s.
I’m not sure I entirely understand what you’re getting at. This tax will most definitely affect peoples’ jobs.Matthew Lattimore, who arguably is the most influential person behind Stanmore at this point in time, was quoted in the AFR today saying Stanmore’s Millennium project may be off the table as a result of the royalty price increase. That would have created 200 jobs.

I don’t live in Queensland. But if the state government is as inefficient as you believe, I question the wisdom of this additional tax.That’s money that would have been spent in the private sector, the engine of growth and jobs.It will represent a hit to economic growth, admittedly small, in Queensland.

I could see your point about comparing this to a tax on cigarettes and alcohol, if it had been imposed by, say NSW. You want less carbon emissions, so you tax carbon at higher rates. But as you imply, there really isn’t a substitute at present for the metallurgical grade coal that Stanmore produces. Given that all of Stanmore’s coal is exported, and there’s no substitute for coking coal, the effect of the tax won’t be to reduce carbon emissions. Rather it will be to put more money in the pockets of the Russian, South African, Colombian and American miners who also supply the seaborne met market.