Coal companies to reap billions more in taxpayer diesel subsidies as Labor approves new mining

Coal companies could receive an extra $6.2bn in taxpayer refunds for the diesel they use if the Albanese government greenlights just half the mine developments up for approval. The finding, in an analysis released by activist group Lock the Gate, comes as the government faces an internal campaign before next month’s Labor party national conference to commit to winding back a fuel tax credit scheme for multinational miners. More than 300 Labor branches have joined unions, climate campaigners and mining billionaire Andrew Forrest in calling on the government to cap the scheme, which refunds miners, farmers and other industries the 52.6c a litre excise applied to petrol and diesel. Sign up for the Breaking News Australia email 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. More than $1bn a year goes to coalmine operators. Energy & Resource Insights, a consultancy created by the Sunrise Project, a climate advocacy organisation, said another 45 coal mining developments were proposed in New South Wales and Queensland. Of these, 22 had environmental impact statements that outlined expected diesel consumption. Based on that data, the consultancy estimated coal companies could receive $6.2bn in rebates on 11.6bn litres of diesel used over their operational lives. …