blaming royalties is finger pointing to distract from their own incompetence
For the past 12 months coal royalties have been on par or lower than NSW open cuts (which is a flat 10.8%) compared to the Qld tiered structure "7% for prices up to $100, 12.5% for prices between $100 and $150, and 15% for prices above $150".
ie
for the March 25 quarter, the average realised price was US111.6. Lets call that AUD170. Thats $16 in royalites for Qld, but it would have been $18 in NSW open cut.
for the Dec 24 quarter, the average realised price was US133. Lets call that AUD205. Thats $21.5 in royalites for Qld, but it would have been $22 in NSW open cut.
blaming royalties is finger pointing to distract from their own...
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