Australia: Queensland govt increases royalty on coal mining

Australia’s Queensland government has increased royalties on coal mining from 1 Jul’22 adding to the costs of mining metallurgical and thermal coal. Average hard coking coal prices have been above A$175/t for five of the past 10 years, while thermal coal export prices have only been above A$175/t around 2.5% of the time over the past decade. Miners in Queensland, however, have slammed the government’s decision.