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‘Widespread effects’ of royalty rate hike alarms Japan investment

Japanese Ambassador to Australia Shingo Yamagami says the decision to hike up royalties for mining companies may potentially trigger “widespread effects” on investing in Queensland.

The Queensland coal scheme proposes new higher coal mining royalties –drastically exceeding the previous top rate of 15 per cent.

Mr Yamagami said the royalty rate hike on locally mined coal was an issue of great concern.

“I fear that this may have widespread effects on Japanese investment beyond the coal industry. The companies I mentioned earlier are involved not only with minerals, but hydrogen, infrastructure and a variety of cutting-edge technologies.”

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