Incredible. Just incredible. 40% has to be the highest royalty on coal in the world. There may be some politicians in Latin America, admirers of Fidel Castro and Hugo Chavez, who have gotten away with higher rates on higher value minerals like copper. But this is unheard of for coal.
We were looking at being debt free in short order. Now that’s not looking so good.
The Queensland coal fields were finally looking prospective for new green field investments. Well you can mostly write that off. The beneficiaries of the new investment and new jobs wiill be the Americans, the Colombians and the South Africans. And probably the Russians.
Increase in Queensland Royalties, page-30
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