Photo by: Bloomberg
PERTH (miningweekly.com) – The Queensland resources sector contributed A$62.9-billion to the state’s economy in 2017-18, a 14% increase on the previous year, the Queensland Resources Council (QRC) reported on Monday.
In its ninth annual contribution report, the QRC noted that the resources sector generated one in every five dollars of the state’s economy, and one in every eight jobs.
“Queensland is leading Australia’s resources charge, which is great news for the state and for every person who benefits from the services the industry helps support through the revenue it returns to the state’s coffers, including schools, hospitals and roads,” federal Minister for Resources and Northern Australia Matt Canavan said.
Coal is the largest overall contributor, accounting for 69% of economic contributions, followed by metals at 15% and oil and gas at 13%.
“Coal plays a major role in the economies of Central Queensland, particularly in the Mackay and Isaac regions which includes the Bowen basin. More than 20 000 people are employed in the coal industry in the region, that’s almost 80% of those employed in the coal industry in all of Queensland,” Canavan said.
“The QRC report highlights the importance of Queensland’s coal to international markets, but also emphasises the world wants the state’s bauxite, copper, gold, silver and zinc for electric vehicles and smart phones, while our gas is in demand in Asia and beyond.”
QRC CEO Ian Macfarlane noted that the resources sector has delivered double digit jobs growth supporting 316 267 full time positions after a 12% increase over the last year.
“It’s not just diesel fitters and port workers but also butchers and chefs, lawyers and environmental scientists who have a job connected to the resources sector in communities across Queensland,” he added.
“Our sector has a resolute commitment to working with local communities and delivering the benefits from our natural resources to all Queenslanders. Resource companies have contributed to 1 260 community organisations, which is up 38% on last year. Community organisations provide vital services to all Queenslanders.
“Over the past nine years the sector has contributed almost A$600-billion, which is larger than the economy of Hong Kong. All of the industry’s economic contributions were achieved while operating within a strict environmental management framework and using only 0.1% of Queensland’s land mass.
Brisbane was still the largest mining town in Queensland supporting 142 447 jobs and contributing A$28.9-billion to the State’s economy, which is three times more than Mackay.
“Every Queenslander, regardless of where they call home, shares in the wealth of the sector through the royalty taxes paid to the state government, which grew by 12% to A$4.3-billion.
“These royalties provide funding for new hospitals, police stations and schools or the wages of 63 000 teachers or 61 000 police or 64 000 nurses,” Macfarlane said.”