Ernst & Young was engaged by the Minerals Council of Australia to provide a report calculating the royalty and company tax payments for the minerals sector in 2020-21. Royalties were $16.7 billion in 2020-21, while net company taxes were expected to reach $26.5 billion in the same year. In total, mining company tax payments plus royalty payments were estimated at $43.2 billion in 2020-21, a 26.5 per cent increase from the $34.2 billion recorded in 2018-19.
Likely to fall this year and beyond due to fall in price of green energy minerals including nickel and lithium, with closure of mines and smelters.