$84.3 billion reasons for resources to lead Qld’s low emission technology future

24 November

Click here for statewide economic contribution infographic

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Please scroll down to see regional TV grabs for Brisbane, Greater Mackay, Fitzroy, Sunshine Coast, Darling Downs, North-West, Northern and Wide Bay-Burnett.

 

Queensland’s resources sector will consolidate and build its role as the state’s economic powerhouse over the next decade as companies rapidly incorporate renewable energy, energy storage and low emission technologies into their operations.

Speaking at the Queensland Resources Council’s (QRC) annual lunch in Brisbane today, Chief Executive Ian Macfarlane told more than 850 guests at the Brisbane Convention and Exhibition Centre the resources industry had a leading role to play in the state’s transition to a low emission economy.

“Climate change is a critical global challenge which must be addressed by all parts of society, and the resources industry is absolutely committed to being part of the global solution,” he said.

“QRC members are already working on transition plans to lower emissions and reduce energy costs in their own operations by improving energy efficiency, adopting renewable energy solutions, investing in co-generation and implementing demand management.

“The world is moving towards a new era of sustainable mining to meet the challenges of climate change, and there is no going back.

“The good news is there are technologies being developed to help reduce the resources sector’s carbon footprint that simply didn’t exist five years ago, and even more will be discovered.

“New, renewable energy options are emerging, and the potential for hydrogen to play a major role in meeting the world’s future energy needs is being watched very closely.”

Mr Macfarlane said the QRC’s latest Economic Contribution Report shows the resources sector contributed a record $84.3 billion to the Queensland economy in 2020-21, up almost $2 billion on the previous period.

“The latest data also shows our sector now supports the jobs of 423,000 people across the state, which includes 56,000 people directly employed and working full-time in resources, and means one in every six Queensland jobs is supported by resources,” he said.

“I’m happy to say to the hundreds of thousands of Queenslanders who rely on our sector for a living – whether it’s through their job, or a business that provides goods and services to resources companies – that a technology-driven transformation is underway, and the future of resources is bright.”

Mr Macfarlane said the resources sector is the number one contributor to the Queensland economy and the state’s largest export industry, shipping almost 80 percent or $44.6 billion of the state’s total exports in 2020-21.

“Our industry’s largest contributor to the state economy by commodity is coal, which makes up 70 percent of our $84.3 billion contribution, followed by metals at 16 percent and oil and gas at 11 per cent, with other contributions like electricity generation, silica and kerogen making up the balance,” he said.

“The resources sector also contributed $2.5 billion in royalties to the state budget in 2020-21 which is used to fund essential government services such as schools, hospitals, roads and police stations.”

Mr Macfarlane said Queensland was the envy of the world because of its unique mix of traditional and renewable resources, which offered a pathway to a lower emission future, long-term job opportunities and economic security.

“Queensland has substantial deposits of coal, gas and minerals which will be increasingly essential in the production of green technologies and products such as electric vehicles, batteries, wind towers, solar panels and a range of electronics,” he said.

“We also have deposits of in-demand critical minerals, particularly in the state’s North, that are being used in the latest defence, medical and renewable energy technologies.

“We have the resources, we have the right attitude and we will increasingly have the technology to drive transformation across the resources sector, so there are good times ahead for Queensland.”

Regional snapshot:

Brisbane region (Brisbane, Logan, Ipswich, Moreton Bay and Redland LGAs)

The resources sector supports the jobs of almost 180,000 people in the Brisbane region. 9,900 of these are direct, full-time resources jobs, which is up 9% on the last financial year. In 2020-21, resources contributed $15.4 billion directly and $36.1 billion in total (taking into account flow-on employment and purchases) to the region’s economy.

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Greater Mackay region (Isaac, Mackay, Whitsunday LGAs)

The resources sector supports the jobs of almost 82,500 people in the Mackay region. More than 17,300 of these are direct, full-time resources jobs, which is up 10% on the last financial year. In 2020-21, resources contributed $8.6 billion directly and $18 billion in total (taking into account flow-on employment and purchases) to the region’s economy.

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Fitzroy region (Gladstone, Rockhampton, Banana, Central Highlands LGAs)

The resources sector supports the jobs of almost 57,550 people in the Fitzroy region, which is up 1% on the last financial year. More than 12,000 of these are direct, full-time resources jobs. In 2020-21, resources contributed $5.3 billion directly and $11 billion in total (taking into account flow-on employment and purchases) to the region’s economy.

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Sunshine Coast region (Noosa, Sunshine Coast LGAs)

The resources sector supports the jobs of more than 7,310 people in the Sunshine Coast region, which is up 18% on the last financial year.  Close to 1,500 of these are direct, full-time resources jobs, which is up 7%. In 2020-21, resources contributed $622 million directly and $1.3 billion in total (taking into account flow-on employment and purchases) to the region’s economy.

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Darling Downs region (Goondiwindi, Southern Downs, Toowoomba, Western Downs LGAs)

The resources sector supports the jobs of almost 10,500 people in the Darling Downs region. Close to 1,530 of these are direct, full-time resources jobs, which is up 9% on the last financial year. In 2020-21, resources contributed $1.1 billion directly and $2.1 billion in total (taking into account flow-on employment and purchases) to the region’s economy.

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North-West region (Burke, Carpentaria, Cloncurry, Flinders McKinlay, Mount Isa, Richmond LGAs)

The resources sector supports the jobs of close to 11,620 people in the state’s North-West region. Over 5,450 jobs are direct, full-time resources jobs, which is up 21% on the last financial year. In 2020-21, resources contributed $1.1 billion directly and $2 billion in total (taking into account flow-on employment and purchases) to the region’s economy.

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Wide Bay-Burnett region (Bundaberg, Fraser Coast, Gympie, North Burnett, South Burnett LGAs)

The resources sector supports the jobs of more than 7,020 people in the Wide-Bay Burnett region.  Almost 1,920 of these are direct, full-time resources jobs, which is up 6% on the last financial year. Resources contributed $538 million directly and $1.1 billion in total (taking into account flow-on employment and purchases) to the region’s economy.

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Northern region (Burdekin, Charters Towers, Hinchinbrook, Townsville LGAs)

The resources sector supports the jobs of more than 9,200 people in the Northern region, which is up 1% on the last financial year. Over 3,130 of these are direct, full-time resources jobs, which is up 28%. In 2020-21, resources contributed $720 million directly and $1.4 billion in total (taking into account flow-on employment and purchases) to the region’s economy.

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Click here to view all Queensland’s regional infographics.