"When the Adani mine, if it were to get going and produce 25 million tonnes of coal per annum, that's its first stage, it would pay about $100 to $150 million a year in royalties to the Queensland Government, depending on the price of coal of course".
Another lawmaker, Larissa Waters, said Adani "has thrown a tantrum to bully the Queensland government".
Meanwhile, in a separate statement on Wednesday, Adani Enterprises said it has deferred a final investment decision on the Carmichael coal project in Australia as the state government of Queensland has yet to approve a royalty deal for the mine.
The company says it's waiting for the State Government to clarify whether there will be a special deal on royalties.
Adani said it was committed to Queensland and has previously said it would "pay every cent" of its full state royalties bill for the Carmichael mine.
"We are in there batting for them, we are in Whyalla to make sure this project goes ahead", he said.
"And at the end of the day it's all about jobs and that's what Queenslanders want", she said.
Environment groups have been opposing the coal mine project, arguing that Australia's biggest coal mine will only help to underminme global efforts to cut global carbon foot print while the coal mine, rail road and port will combine to damage the Great Barrier Reef.
Arrium was contacted but did not comment on the postponement of the project.
Federal Labor leader Bill Shorten said while royalties need to be determined at a state level by the Labor government, he opposes using federal taxpayer money to subsidize the mining project.
The Group, which has interests from ports to power, would finalise by June an investment decision for the project, which has been delayed due to protests from environmental groups.
Ms Palaszczuk, a member of the Right, said her ministers meet with many people and groups, and rejected the assertions.
Since then some opposition to the Adani mine from within the ALP has been voiced publicly and Queensland deputy premier Jackie Trad has come out saying that a "royalty holiday" is off the table.
"Queenslanders can not trust her and uncertainty is all around because this weak, compromised deal, no-deal Premier has failed to put Queenslanders first", he said.
Mr Davies said neither the fund nor the Export Finance and Insurance Corporation had consulted IA over the project.