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Time For Mining Corporations to Pay their Fair Share

Cassy O'Connor MP  -  Tuesday, 6 September 2022

Tags: Mining

Cassy O'Connor MP | Greens Leader

Resources Minister, Felix Ellis was happy to brag about 2021-2022 mining royalties collected by the State in Parliament today, but failed to tell Tasmanians they have been ripped off to the tune of $125 million.

An extra $83 million in the public coffers might sound pretty good, but that’s not the real picture.

The truth is, mining companies operating in Tasmania are paying some of the lowest royalties in the country – far below the national average*.

Minister Ellis might pretend otherwise, but the rate of mining royalties in Tasmania is an expensive joke. It’s effectively gifting our resources to big corporations.

The Liberals are giving away publicly-owned resources for peanuts, while Tasmanians battle with the rising cost of living, and under-resourced government services. It has to stop.

If mining royalties were increased to fair levels, last year would have brought in around $208 million – $125 million in additional revenue. That’s money that could be spent on health, housing, or education.

Every time we’ve raised fixing royalties with the Liberals previously, they’ve scoffed and said it would discourage mining investment. Minister Ellis comprehensively debunked that claim today by highlighting all the high demand minerals found in Tasmania.

With demand for Tasmania’s minerals growing fast, now is the time to make big corporations seeking to exploit these resources pay their fair share. It’s time for a fresh, fairer approach to mining royalties – one that will deliver for all Tasmanians.

*Based on royalties collected across Australia 2010-2020, as per data reported by Deloitte and the Minerals Council of Australia.