Mining News

Anglo’s Pearce decries Queensland’s dramatic increase in royalty rates

The percentage that Australia’s Queensland government will take from Anglo American in 2023 is set to rise from 48% to 59% at current prices, owing to Queensland dramatically increasing its royalty rates without consultation. Anglo American finance director Stephen Pearce decried this as having a significant impact on the competitiveness of Queensland as a destination for long-term investments, “especially as the change was introduced without any consultation with industry”. (Also watch attached Creamer Media video.)

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