Each major mine development in the States is covered by a state...

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moondoong

46,163 Posts.

23/07/21

22:14

Post #: 54735143
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Originally posted by moorookamick ↑

Hi Moondoong,
You miss the point mate, if Qld was to act like multinationals
it would "make as much money as it can now" (its called Capitalism Mate)
which would mean cranking up the coal royalties now while it can!

In a capitalist world the owner pockets the profit and in this case
the owner of Qld coal is the Qld Crown (it owns everything in Qld
under the topsoil mate!

Its difficult to argue capitalism for one and not for the other including yourself, mate;
that is if you want to be consistent.

Let's suppose that China bought out all Qld mines tomorrow
and , like BHP, left 8% pickings for Aussie investors by
having the mines listed on the ASX, how would you be eh?
Same deal as now except a different owner..eh?

But back the topic eh?
This conversation arose out of concern (as per the OP)
of Qld getting into further debt by staging Olympics 2032.
My solution is to crank up the coal royalties while world prices are
up and when it does not threaten the economic viability of coal mining.
Qld coal mining has been economically viable when prices were
20% under where they are now.

Now may I ask you, given that Qld & Aus has supported the Olympics bid,
what is your solution for the $7 billion costs to Queenslanders to
pay for the gig? . Qld has about 3 million taxpayers from memory &
that would pan out @ $2400 each. Are you putting up
your hand to pay $2400 into Qld Treasury now? I'm certainly
not; hence my proposed solution which is let Qld's most
valuable asset pay.

So apart from cribbing, what's your solution mate?
List it on the ASX so that you can get a part of the action?

Expand

Each major mine development in the States is covered by a state agreement. This is an act of parliament that normally stays in force for the life of่ the project.

If you willy-nilly jacked up those royalties unilaterally you render those state agreements worthless and make the country unattractive for investment.

Be careful what you wish for mate.
You have nfi how major projects are found, financed, developed and operated mate.

Have a nice day mate.
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