Coal companies could get $6.2bn more in taxpayer diesel refunds

Coal companies could receive an extra $6.2bn in taxpayer refunds for diesel if the government greenlights half the mine developments currently up for approval, an analysis released by Lock the Gate found. Consultancy Energy & Resource Insights, created by the Sunrise Project, said 45 coal developments were proposed in New South Wales and Queensland, 22 with environmental impact statements outlining expected diesel use.

Based on that data the consultancy estimated $6.2bn in rebates on 11.6bn litres of diesel over the projects’ operational lives and flagged one expansion — Glencore and Yancoal’s Hunter Valley operations — could reap $1.7bn. The fuel tax credit refunds the 52.6c a litre excise on petrol and diesel.

Treasury last month forecast the scheme would cost the budget $47bn over the next four years, rising from $10.7bn in 2026-27 to $12.8bn in 2029-2030, and said more than $1bn a year goes to coalmine operators.

Australia, New South Wales, Queensland

coal companies, diesel refunds, excise rebate, mine approvals, nsw, queensland, glencore, yancoal, hunter valley, treasury forecast