QRC welcomes Peabody’s North Goonyella Extension

The Queensland Resources Council (QRC) welcomes the decision by Peabody to extend its North Goonyella metallurgical coal mine, near Moranbah. QRC Chief Executive Ian Macfarlane said the announcement was more good news for the State’s coal industry and the men and women it supports through full-time jobs.

“Extending the mine’s life until 2026 will see an exciting new project come online – North Goonyella South - and secure the jobs of more than 230 employees many of which live locally,” Mr Macfarlane said. “It again demonstrates the strong demand for Queensland coal especially metallurgical coal which is used to make steel.

“Peabody has longstanding relationships with Indian steelmakers and a recent report from the Office of the Chief Economist highlighted the growth in metallurgical coal exports to India - increasing by 22 per cent over the last 12 months and forecast to overtake China as the world’s largest importer of metallurgical coal by 2020. The Indian steel story will continue to grow along with its urbanisation story. The Queensland resources sector can help meet the needs of growing economies, and create jobs and investment here in Australia.”

QRC data shows that in 2016-17, the State’s coal industry contributed $37.8 billion to Queensland’s economy and supported 189,995 full-time jobs. 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 percent of Queensland’s land mass.

Source: QRC

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