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Queensland Treasury reveals growth in the state’s resource exports

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World Coal,

The latest quarterly figures from Queensland Treasury again demonstrate exports from resources are powering ahead and lifting the state’s prosperity.

Queensland Resources Council (QRC) Chief Executive Ian Macfarlane said the sector is a key driver of growth in Queensland and its top drawer deposits are in high demand.

He explained: “Despite the predictions of green activists, the value of thermal coal exports surged 18% while the worth of LNG exports lifted 15%. Demand for these commodities is expanding from both developing economies in Asia and established economies.

“Thermal coal and LNG increased 34% and 36% in value over the 12 months. A good sign the global economy is healthy is reflected in copper demand and the base metal outshone all other commodities over the three months achieving 60% growth. The copper story in Queensland looks good with the Australian Bureau of Statistics recording a 41% jump in exploration funding last week.

“Coking coal was still feeling the effects of Cyclone Debbie down for the quarter but still achieved a 23% increase in value over the year.

“Resources are the state’s largest export industry which last year generated more than 70% of total merchandise export value and supported close to 300 000 jobs including a 12% lift in full time employment.”

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