Federal Budget confirms importance of Queensland resources sector

The Queensland Resources Council (QRC) says the Federal Budget confirms the importance of the resources sector to our national economy. 

QRC Chief Executive Officer Janette Hewson said the Budget recognises the productivity gains and the contribution of Queensland’s coal, gas, metals and critical minerals to benefit all Australians. 

“The Budget confirms the critical role of Queensland’s resources – including coal exports, natural gas for the east coast, LNG exports and the future facing minerals to secure our energy future,” Ms Hewson said. 

“Our sector continues to underpin the national economy and our resilience in uncertain times. 

“Budget measures to reduce red tape and duplication are a welcome commitment to accelerating approvals and streamlining processes that place unnecessary regulatory burden on resources projects. 

The Government’s announcement aligns with principles from QRC’s Streamlining Report to unlock new opportunities from strong global demand for all Queensland commodities. 

“Streamlining environmental approvals is important for resources projects across all Queensland commodities, from coal and gas to Queensland’s emerging critical minerals province in the North West, that could benefit from measures announced through the Critical Minerals Facility. 

Overnight, the government reaffirmed its decision not to impose a new tax on gas exports, heeding warnings from the industry, including QRC, of its impact on new investment and energy security. 

“The decision will provide greater investor confidence in Queensland’s gas sector, which continues to do the heavy lifting to provide energy security along Australia’s east coast. 

“Industry wants to work with the Government on the details of the Gas Reservation framework to avoid oversupply if Queensland producers are forced to set aside 20 per cent for domestic use, threatening the long-term viability of the sector and risking further investment. 

“Fuel security is critical to the Queensland resources sector, which welcomes the Government’s confirmation of the Fuel Resilience Package, including feasibility studies into expanding domestic refining capacity.” 

Media Contact:

Matt Dunstan – [email protected]