Sovereign risk in Queensland – Pitt’s hypocrisy, Lynham’s legacy



  • Labor’s budget offers nothing for resources sector already facing uncertainty
  • Confidence at a five year low according to a Queensland Resources Council survey
  • Resources sector has already taken multiple blows under Palaszczuk Government

The Palaszczuk Government’s second state budget has failed to address the growing perception of sovereign risk facing a resources sector under siege from green activist groups, the LNP Opposition said today.

Shadow Mines Minister Andrew Cripps said Treasurer Curtis Pitt’s claims that Labor was delivering certainty for Queensland’s resources sector by not increasing royalties was blatantly hypocritical when the industry faced a constantly changing regulatory environment.

“Queensland’s resources sector is facing an intensely high level of uncertainty under the Palaszczuk Government because of the aggressive attitude of Deputy Premier Jackie Trad and Environment Minister Steven Miles, who pandered to green groups to get them over the line at the last election,” Mr Cripps said.

“Thanks to Labor, the Queensland resources sector has taken multiple body blows from a rampant and radical green movement that has taken advantage of the political weakness of Mines Minister Anthony Lynham.

“Even Minister Lynham’s reported commitment to secure additional resources for the Land Court to cope with frivolous and vexatious appeals is buried in an obscure allocation in another portfolio and will have to compete with other programs.

“A recent Queensland Resources Council survey found confidence in the regulatory environment of the state’s resources sector was at a near-five year low. There is a growing perception of sovereign risk as a result of Labor’s risky and regressive policies.”

Mr Cripps said Queensland’s reputation as an attractive place to invest in the resources sector was critically important to develop job-creating projects and royalties to the state.

The Palaszczuk Labor Government’s attacks on the Queensland resources sector include:  

  • Unnecessarily interfering with the approvals process for the expansion of Abbot Point,
  • Overturning laws to prevent green groups from lodging frivolous objections to projects,
  • Unnecessarily interfering in the development of the Aurukun Bauxite deposit,
  • Prematurely and aggressively shut down sand mining on North Stradbroke Island,
  • Reintroducing an arbitrary ban on the development of uranium mining in Queensland,
  • Unnecessarily interfering with the approvals process for the Acland Stage 3 coal project.


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