Discount mining royalties on the table for Galilee miners(reprint)

The Queensland Government has today revealed a plan it hopes will drive mining development in the State’s Galilee Basin. Speaking at the Major Projects Conference in Brisbane today, Premier Campbell Newman announced plans to offer a discount on royalties for companies who commit to mining in the region.

Under the plan, these “first movers” could also be granted access to the T2 site at Abbot Point near Bowen. The government hopes the initiative will accelerate development STONE CRUSHER MACHINE IN SRI LANKA and get projects off the ground in the Galilee Basin which it estimates could create up to 28,000 jobs. “My government is unashamedly all about growing the business of Queensland and we will do all we can to facilitate the projects proposed for the Galilee Basin,” Newman said.

The Deputy Premier and State Development, Infrastructure and Planning Minister Jeff Seeney said the proposed projects had a total forecast investment of $28.4 billion and would provide over 15,000 jobs during construction and over 13,000 operational jobs. “Companies that are currently investigating opening mines in the SILICA SAND PRODUCTION PLANT IN GERMANY Galilee Basin are contemplating many billions of dollars of investments,” Seeney said.“My government is mindful of the financial magnitude of these investments and the long lead times between financial commitment and shipping the first coal to its offshore destination, which is why we are offering incentives.”

Seeney said The Galilee Basin Development Strategy includes a “ramp-up-to-royalty initiative whereby the government will consider offering reduced royalties for an initial period of time”.“These incentives, along with the strategy’s streamlined solutions for planning, land acquisition, water, power and rail, will ensure projects have the best chance of going ahead in the Galilee Basin,” he said.Queensland Resources Council Chief Executive Michael Roche has welcomed the royalty relief plan.

“Anything that you can do to make a whole new coal province like the Galilee Basin more attractive to investors has to be good news,” he said. Roche said the strategy contains some innovative proposals which will help projects in their early stages and assist them to overcome stumbling blocks inherent with the Galilee Basin location SILICA SAND CRUSHER MACHINE SUPPLIER including distance to ports and the lack of existing infrastructure. “To get a project up and running in the Galilee Basin you’re talking about $10 billion dollars of investments,” he said.

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