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Queensland Resources Sector powers on Featured

A quarterly report into the performance of Queensland’s resources sector due for release mid-April will show Queenslanders can continue to rely on resources to help the state recover from Covid-19.

Queensland Resources Council (QRC) Chief Executive Ian Macfarlane said the state’s abundant commodity base has placed Queensland in a very strong position, with an upcoming State of the Sector report for the December 2020 quarter showing local CEO’s have great confidence in the future of the industry.

“Almost 25 percent of the CEO’s we surveyed from our member companies expect to increase employment across their Queensland operations this year,” he said. “When the industry is hiring – that’s good news for regional Queensland.”

Mr Macfarlane said the resources sector’s focus on keeping workers, their families and communities safe during Covid was paying off, with the industry able to continue to operate, diversify and innovate to meet emerging global energy needs.

“Resources supports more than 420,000 Queensland jobs, and we have about 1,000 resources-related job vacancies across the state right now, so Queenslanders have every reason to feel optimistic about the future as our sector continues to go from strength to strength,” he said.

Mr Macfarlane said due to its natural assets, Queensland has a golden opportunity to build on its traditional industry strengths of coal and gas, and minerals such as copper, zinc and bauxite, and to take advantage of renewable opportunities from the hydrogen and critical minerals sector.

He said India’s demand for thermal coal is also expected to grow by more than four percent on average over the next five years to 2026, according to the Federal Government’s latest Resources and Energy Quarterly Report.

“Between 2020 and 2026, South Asia and South East Asian demand for thermal coal is also forecast to grow by 52 percent, and this figure doesn’t include India, so there is still a very strong market for Queensland’s thermal coal during the world’s transition to a low-carbon future,” he said.

Source: QRC

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