PERTH (miningweekly.com) – Coal has continued to drive exports in Queensland, with the state government this week reporting an increase of 18.4% in the value of exports, which reached A$84.3-billion in the 12 months to March.
“Yet again the value of Queensland’s merchandise exports over the year are larger than NSW and Victoria combined,” Premier and Minister for Trade Annastacia Palaszczuk said.
“This is another outstanding achievement for Queensland. Our commodities, from liquefied natural gas (LNG) to beef, are delivering valuable export dollars to Queensland and supporting thousands of jobs.”
Coal accounts for 40% of Queensland’s total exports, with CEO of the Queensland Resources Council (QRC) Ian Macfarlane noting that it was also the commodity of choice for Asia and the State’s economy is benefiting from key trade links with growing economies.
“Queensland has an advantage over other states with its close proximity to the economies of China, India and Japan. Every quarter we see export data repeating a comment theme - the world needs our metallurgical coal to make steel needed for building modern cities and our high quality thermal coal is delivering tomorrow’s energy needs through high efficiency, low emission coal-fired power plants,” Macfarlane said.
Coal exports contributed A$36.3-billion, an increase of A$5-billion or 16% over the previous 12 months. In total, the resources sector made up A$68.2-billion of the total exports.
“Together with minerals, LNG, alumina and semi-soft coking metallurgical coal and pulverised coal injection coal, the resource sector’s diversity story can cushion the economy against commodity fluctuations.
“For every A$10 Queensland earns from exports, a$8 is for our resource commodities and this will continue to grow with global growth,” Macfarlane said.
"Queensland has great prospects in copper, zinc and dozens of other new economy minerals, but we will only secure investment in these new projects if we can offer stable and sensible policy settings to global investors and customers."