Mining companies are fighting back against a proposal to boost coal royalties in Queensland. 

Treasurer Cameron Dick last week announced the move was being considered to fund infrastructure and cost-of-living relief.

But some of Australia’s largest mining companies, including BHP and Glencore, have released an open letter warning the Premier against such measurers.

They say an increasing resourcing royalty tax would risk regional jobs and put more pressure on electricity prices.

Queensland Resources Council CEO Ian Macfarlane claimed the industry is being targeted “because we can’t reciprocate at the ballot box”.

“The royalties this year will be three-times what they were last year, and for coal, probably four-times,” he said. “I reckon that’s a fair whack.

“Yes, the price of coal’s gone up but we don’t turn around and say to the wheat farmers, ‘Well the price of wheat’s gone up, we’re going to tax you’.”

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