PERTH (miningweekly.com) – New research by the Queensland Resources Council (QRC) has revealed that miners in the state are planning to increase employment on the back of a sustained lift in global commodity prices and record production.
In its latest State of the Sector report, the QRC revealed that 52% of resources chiefs said they would increase employment over the next quarter with 13% looking to increase employment ‘substantially.’
QRC CEO Ian Macfarlane said the report was a "jobs story" and a timely one for the State’s economy with the unemployment rate hovering above 6%, one of the highest in the nation.
“It demonstrates the sectors willingness and ability to drive stronger employment growth in the economy especially in the regions where unemployment can be in the double digits,” he said.
The report found the resources sector reached two new production records with the Value of Production Index increasing by 35% to A$22.14-billion over the quarter and the Production Index lifting by 6% driven by coal exports being up 30% and lead which gained 39% in the quarter.
“Queensland’s rich and diverse mineral and petroleum deposits are highlighted when world demand grows across several commodities,” Macfarlane said.
He noted that while commodity prices were strong over the three months, regulatory costs and attracting skilled labour were ongoing concerns for the sector.
The Queensland resources sector now provides one in every six dollars in the Queensland economy, sustains one in eight Queensland jobs, and supports more than 16 400 businesses across the state, all from 0.1% of Queensland’s land mass.