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Rio Tinto’s coal sales show strength of Queensland resources sector

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World Coal,

The Queensland Resources Council (QRC) has welcomed the strong sale price for Rio Tinto’s Queensland coal assets, which will continue to operate under new owners.

QRC Chief Executive Ian Macfarlane said the sale of Rio Tinto’s interest in the Hail Creek coal mine and Valeria coal development project and the Kestrel underground coal mine for a total of AUS$3.95 billion showed the strength of the resources sector in Queensland.

“Our resources sector continues to power our economy in Queensland,” Macfarlane said. “It’s great news that through the sale of these assets, the Queensland coal industry will continue to generate the jobs and export revenue that keeps our state strong.

“The high value of these coal assets is a sign of confidence in the contribution of the coal industry and a reflection of the strong demand for our high quality coal in international markets.

“Regional communities across Queensland are benefitting from the resurgence in the resources sector with an uptick in local jobs and investment. Our resources create one in every six dollars, one in every eight jobs and account for 80% of the state’s exports. A strong resources sector delivers for all Queenslanders.”

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