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Industry surprised by Queensland royalty trade-off

Queensland treasurer Jackie Trad is awaiting the response from the mining industry to her controversial offer of a three year royalty freeze in return for a $70 million contribution to a Regional Infrastructure Fund.

The Deputy Premier rejects suggestions she’s blackmailing the industry but if it doesn’t kick in the money she says she’ll revisit royalties next year.

The CEO of the Australian Minerals Council Tania Constable tells Mark the move has taken industry by surprise because it already contributes billions to the Queensland budget’s bottom line.

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