6 September 2023

Statement on changes to the New South Wales coal royalty regime

Whitehaven Coal provides the following statement regarding the NSW Government’s changes to the coal royalty regime:

Our position remains that coal royalties don’t need to be increased. The existing regime has successfully delivered significant economic and social benefits to NSW for decades, particularly in our regions, and particularly over the last few years where historic high royalty revenues have been returned.

Today’s decision will unquestionably add to inflationary pressures impacting our sector and adds to a range of unhelpful policy interventions in the mining and energy sector that undermine confidence in our future. In this context, it is all the more important for governments to look harder at ways to improve productivity and make it easier to invest.

This is essential to secure jobs and investment through an energy transition that will take decades, not years, and to underpin security of energy supply, both at home and for our key trading partners overseas.

While the cost impact of this royalty change is not insignificant, the increase represents a more measured adjustment in contrast to other jurisdictions and we acknowledge the NSW Government’s constructive engagement with industry and other stakeholders throughout this process so far.

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