The new detail comes as Treasurer Cameron Dick prepares for a week-long Asia Pacific trade mission set to include meetings with resource sector figures in the country — the state’s largest export market.
The Queensland Resources Council and Japanese ambassador Shingo Yamagami have campaigned hard against the coal royalty changes and perceived lack of consultation.Glenn Campbell
Coal mining companies and even the Japanese ambassador to Australia have criticised the state for what has been described as a lack of consultation on the changes.
After a decade-long royalty freeze and soaring prices,the government announced two new higher tiers in its June 21 budget — while leaving existing levels as they were — to ensure a share of coal “super profits”.
The Queensland Resources Council has since campaigned hard against the changes and perceived lack of consultation. Japanese ambassador Shingo Yamagami has at the government.
“It could have implications beyond Queensland or the coal industry,affecting Japanese investment in joint ventures such as the hydrogen hubs,” Yamagami told an industry event in Sydney last week.
During an estimates hearing in July,at which Dick outlined his interactions with resource industry figures in the weeks before the budget,Trade and Investment Queensland acting chief executive Richard Watson was also quizzed about what he and his agency’s Tokyo office knew about the royalty changes.
“I was part of the discussions with the Consul-General of Japan[Masuo Ono] when he was first briefed in relation to the outline of what was proposed,” Watson said. “Certainly the details were not put before us before the budget was announced.”
TIQ has confirmed toBrisbane Timesthat the meeting,also attended by Dick,took place on June 8 — the same day the Treasurer also met members of the Queensland Resources Council at the request of chief executive Ian Macfarlane,with whom he flagged changes two weeks earlier.
Dick’s diary lists the purpose of the June 8 meeting,two weeks before the budget was handed down,as “ministerial portfolio matters”. Consulate,departmental and ministerial staff were also declared in attendance.
In a response to questions fromBrisbane Timesabout its version of events from June 8,the Consulate-General of Japan said it was not in a position to comment on how the Treasurer’s office characterised meetings.
“Consul-General Ono conveyed the concerns of Japanese companies regarding royalty increases at the meeting;however,there was no detail provided by the Treasurer regarding the detail of the proposed royalty scheme,” it said in a statement.
Dick has said he invited chief executives of the coal companies who met him that day to provide him with further details themselves,something only “some” did,and also gave assurance to Macfarlane in May that the lower royalty tiers would remain untouched.
The Treasurer will fly out this weekend for South Korea,before heading to Japan and Singapore. He told reporters this week he planned to “meet with a range of companies who are looking to invest in Queensland”.
“So that will include companies interested in investing in the resources sector in Queensland including renewable hydrogen,” he said,along with traditional resource industries and new opportunities.
“We do this every year after the budget;we travel to our major trading partners and our investment partners to reaffirm that strong relationship that exists between Queensland and countries around the world.”
The Morning Edition newsletter is your guide to the day’s most important and interesting stories,analysis and insights..