Resources sector delivers major export milestone for Queensland

Queensland Resources Council (QRC) Chief Executive Ian Macfarlane said according to latest Queensland Treasury report, the State’s resource exports had increased to AUS$65.6 billion – or 81% of the State’s total merchandise exports – over the 12 months to 30 November last year.

“Over those 12 months, the Queensland resources sector exports earnt our State the equivalent of AUS$125 000 every minute,” Macfarlane said.

“The growth in our exports has been strong. Our export earnings increased by AUS$10 billion with double-digit growth in coal and mineral sales overseas. A strong resource sector means a strong Queensland.

“Since the Palaszczuk Government took office in February 2015, resource sector exports have increased by 114%. The growth of other exports was less than 7% over the same period.”

Macfarlane said it was critical for Queensland, including the 316 000 Queenslanders who work directly and indirectly in the resources sector, that the Government maintained stable policy and royalty tax rates, continued to encourage exploration through land releases for new discoveries, and worked with the industry on its skills development, investment attraction and export promotion initiatives.

“The recent State Budget update showed the resources sector is contributing a record AUS$5 billion in royalty taxes this financial year,” he said.

Macfarlane said the resources sector was determined, in 2019, to accept Premier Annastacia Palaszczuk’s offer to work together with the sector.

In her address at the QRC annual lunch in November last year, Premier Palaszczuk committed her Government to work with the QRC to promote existing initiatives and explore new opportunities to:

expand the availability of land for mineral and energy resource exploration and development;

strengthen our export partnerships, create new resource export markets and increase development of advanced manufacturing and renewable energy in Queensland;

work together to identify and develop the skills and training needed for our resources industry and towards opportunities for diversity of employment by increasing the number of women and Indigenous Queenslanders in the industry.

Specifically, the Premier committed “to continue with timely consultation with the Queensland Resources Council on legislative and policy changes”.

Read the article online at: https://www.worldcoal.com/coal/11012019/resources-sector-delivers-major-export-milestone-for-queensland/