QRC CEO Ian Macfarlane
PERTH (miningweekly.com) – The Queensland Resources Council (QRC) has called a meeting with the state government to discuss the decline of the state’s attractiveness for resources investment.
This comes after the Fraser Institute’s global survey of mining companies found that the state’s investment attractiveness had fallen from twelfth to thirteenth position, out of the 83 jurisdictions reviewed.
While the Fraser Institute survey found Queensland was twelfth for mineral potential, it was marked down for uncertainty for environmental regulation (forty-night), regulatory duplication and inconsistency (forty-eight), and uncertainty concerning the administration, interpretation and enforcement of existing regulation (thirty-ninth).
“It means Queensland is becoming less attractive for mining companies when they decide to invest. The world is watching,” QRC CEO Ian Macfarlane said.
“For Queenslanders, the less attractive we are for new investment is the less potential to create jobs, grow exports and earn royalties to pay for services and infrastructure. A strong resources sector is a strong foundation for the quality of life for Queenslanders.”
Macfarlane said QRC would meet with the state government, including Trade and Investment Queensland, to ensure that the combined efforts were re-doubled to sell a strong Queensland message.
“Now is not the time for mixed messages on resources. We need to speak with one voice, we want the investment to deliver the energy mix, infrastructure, advanced manufacturing and expansion of renewable energy, electric vehicles and batteries around the globe,” he said.
“These survey results are a further warning that a number of projects in an estimated A$70-billion of resource projects might not proceed. These projects take many years to get to a final investment decision.”
Western Australia ranked as the second-most most attractive jurisdiction for resources investment, below Nevada, while the Northern Territory and South Australia were ranked twenty-third and twenty-fourth respectively. New South Wales was ranked forty-second, ahead of South Africa.