Data from the Australian Bureau of Statistics shows that record profits from Australia’s minerals sector are making Australia’s economy stronger.
During 2018, pre-tax profits of resource companies increased to a record AUS$81 billion.
Mining makes up 33% of all company profits in Australia, which makes it a significant contributor to government revenues which fund teachers, doctors, police and other essential services and infrastructure.
With resource company profits growing by AUS$16.9 billion during 2018, it is clear that strong prices for iron ore and coal will support a faster return to Budget surplus.
A stronger mining industry is good for Australia.
Read the article online at: https://www.worldcoal.com/mining/07032019/australia-to-see-faster-return-to-budget-surplus-through-stronger-mining-industry/
In this webinar, OSIsoft will highlight some aspects of a successful digital transformation journey and discuss the top priorities that mining executives are looking for. They will also see how mining companies around the world benefit from real-time operational data to improve their safety results & their asset reliability and to optimise their operations. Register for free today »
The Queensland Resources Council will join the Premier’s Queensland Industry Recovery Alliance today to work with the government to maximise the resource sector’s role in the State’s COVID-19 recovery.
