Queensland Premier Annastacia Palaszczuk is expecting tough negotiations with Indian mining giant Adani over a new cabinet-approved royalties deal.
Ministers attended a snap cabinet meeting on Friday and unanimously agreed the firm would pay all royalties on its proposed $16 billion Carmichael coal mine.
On Saturday, the premier said no further changes would be made after her government worked "night and day" to finalise the framework.
"All royalties will be paid and they'll be paid with interest. That is the bottom line," she said.
"It's going to be tough negotiations over the next few days, but this is the best outcome and I'm not moving from this," she added.
Ms Palaszczuk denied the policy contained hidden sweeteners for Adani and dodged questions about concerns the company could back out after originally agreeing to pay only $2 million a year over the first seven years of the mega mine's operation.
She declined to give details of interest rates or calculations over the coming years and was unclear about whether Adani was yet aware of the policy.
"They are now," she said.
The government's approach will apply to future developments projects in the Galilee and Surat Basins and the North West Minerals Province.
Cabinet's approval of the new plan comes after a massive backlash within Labor as well as from the federal government and regional councils, triggered by the release of details of Ms Palaszczuk's original agreement with the company.
That arrangement could have cost Queensland taxpayers up to $320 million.
At parliament on Saturday, the premier, standing alongside the leader of Labor's left faction, Deputy Premier Jackie Trad, denied she had backflipped, saying the government would squeeze every dollar and job from the project.
"Cabinet worked collectively to come to this conclusion and I'm very pleased with the outcome," Ms Palaszczuk said.
If Adani agrees to the deal, they'll be instructed to pay royalties from the first year of production, Deputy Premier Jackie Trad said.
She's flagged an option to defer some royalties within the first five years, but they would attract interest payments.
The state government has decided not to receive or administer funds from the Northern Australia Infrastructure Facility, Ms Trad said, forcing the federal government to provide such funds to Adani directly.
The response from environmental and conservation groups has varied.
"While we do not believe any new coal mines, including the Adani mine, should proceed given global warming trends and the imperative of carbon emissions reduction, we still welcome these announcements," Queensland Conservation Council head Dr Tim Seelig said.
"We thank Deputy Premier Jackie Trad for holding the line on this matter, and we thank the Palaszczuk Cabinet and government for locking in on a better final position."
Liberal National Party leader Tim Nicholls said there was a real risk Adani would back out.
"Two and a half years and a week full of crisis meetings, three cabinet meetings, two held late at night and we're still no closer to a deal," he said.
"I wouldn't surprised if Adani say this is all too hard."
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