Labor to delay royalties for new mine shafts under review by Cabinet secretary

Labor to delay royalties for new mine shafts under review by Cabinet secretary

Updated

The Australian Conservation Foundation is demanding immediate action from the government over its plans to increase the size of existing coal mines and mines off South Australia's coast.

The foundation says the proposal to increase the size of new mine shafts off the state's eastern coast has triggered a review process that could delay the award of a $5.6 billion royalty.

"The mining industry예스 카지노 has an interest in ensuring that the amount of mining울산출장마사지 울산출장샵 to be done off the coast of SA stays below the existing market rates에그 벳 for a number of reasons, one of which is, that is a direct impact on the carbon price.

"But the coal companies will continue to have an interest in ensuring that there is a rate of return, that they make that a large portion of their profits."

The coalition says the mine approval review was launched with the goal of "regulating the supply and pricing of iron ore" through "the regulatory mechanisms established under the National Resource Management Act".

But the state's environment minister, Rob Stokes, has backed the coal industry's position saying its current regulations are "best in class".

The review includes a costings of whether there is an actual market for coal, and a full cost of royalty review.

Mr Stokes says a review that starts later this year would focus on whether there are "significant environmental benefits that might come to bear at that time".

The Australian Conservation Foundation says the mine approval review could lead to a further reduction in the level of royalties over time as the mines are completed.

"A $5.6 billion mine has now been set aside which is going to be used up. What we want to see is that that money comes to fruition in a sustainable fashion rather than just sitting there sitting as a legacy," Professor Paul Brown said.

Topics: mining-environmental-issues, environmental-management, environment, industry, sa, adelaide-5000, brisbane-4000

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