PERTH (miningweekly.com) – The Queensland government on Wednesday said that it would look to partner with some of the state’s largest mining companies to create a Resources Community Infrastructure Fund.
Deputy Premier and Treasurer Jackie Trad said the voluntary fund would be targeted at improving economic and social infrastructure across Queensland’s resources communities.
“The government backs the resources industry and we back the jobs and communities that industry is built on. We acknowledge and are grateful for the investment resource companies already make in the communities in which they operate,” Trad said.
“Now we want to supplement that investment through a partnership between government and industry to invest even more in regional communities, for the workers and their families who live there.”
To get the Resources Community Infrastructure Fund rolling, the state government will invest A$30-million, and is looking for contributions from mining companies on a voluntary basis.
The government was hoping that the resources sector would contribute as much as A$70-million to the new fund.
The state government has, meanwhile, offered to freeze royalty rates on coal and minerals for the next three years.
The Queensland Resources Council (QRC) on Wednesday said that it would ask its member companies to consider the government’s offer, and its request for financial assistance to a Regional Infrastructure Fund.
QRC CEO Ian Macfarlane said increasing royalties would be increasing taxes and an attack on the resources sector that supports one in eight jobs in Queensland – the equivalent of 315 000 full-time jobs.
“The goverment is already on track to receive more than A$5-billion in resource royalties this financial year, a record and almost A$1-billion more than they expected from their current budget.
“Any increase in royalty taxes is a disincentive for investment in regional areas and would mean lost job opportunities for all Queenslanders.
“The industry will respond to the government on its proposal as soon as possible.”