Greens Pledge to Set Up State-Owned Mining Company, Includes Indigenous Worker Quota

The move comes as the Minerals Council of Australia openly criticises the federal government for hampering mining activities.

Three .9999 fine gold bars, 400 troy ounces or 28 lbs each, with a combined value of more than USD 2 million, are displayed at the Bureau of Engraving and Printing (BEP) in Washington, on Aug. 27, 2012. PAUL J. RICHARDS/AFP via Getty Images

The Queensland branch of the left-wing Greens party have pledged to set up a state-owned mining company near a major mining town in the state’s north-west.

The proposal would be funded by increasing coal and gas royalties, estimated to net $4 billion (US$2.6 billion). The company will also need to make sure 15 percent of its workforce is comprised of Indigenous employees.