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Queensland’s LNG and metallurgical coal commodities are not only delivering for the State but the nation with Australia’s resources and energy exports forecast to arrive at a new record of $230 billion in 2017-18, according to the Office of the Chief Economist. Queensland Resources Council (QRC) Chief Executive Ian Macfarlane said the figures in the Resources and Energy Quarterly (REQ) highlight the importance of resources to the wider economy but noted in the outlook was a ‘major concern’ about Aurizon’s decision to pre-empt the regulator.
Queensland coal and mineral exports grew by $5.6 billion over the last 12 months, propelling the Palaszczuk Government beyond its target for a 22% share of national trade. Queensland Resources Council Chief Executive Ian Macfarlane said data released by the Government today showed the State’s coal and minerals, excluding LNG, alumina and selected coals, accounted for $37.6 billion – or 53% - of the State’s total $70 billion in commodity exports in the 12 months until the end of February this year. That’s in addition to billions of dollars of value-added resources like LNG and alumina.