QRC welcomes reinvigorated approach to resources sector investment

THE Queensland Resources Council has welcomed the appointment of a senior government official to a new position of global investment commissioner with the State Government’s Trade and Investment Queensland (TIQ).

QRC chief executive Ian Macfarlane said the appointment of former Trade and Investment commissioner to Japan Ross Buchanan as global investment commissioner within TIQ was a practical step that could support the government’s desire to attract more international investment in the development of Queensland’s resources and energy reserves, including renewables.

Mr Macfarlane said the industry had been working with the government and TIQ to further strengthen its TIQ Mining, Resources and Energy team and connect the resources industry with the 12 Trade and Investment commissioners representing the state around the world.

“A shared priority for the Queensland Government and industry is to lift the perception of Queensland as an attractive place to invest," Mr Macfarlane said. "Unfortunately, in February this year, the Fraser Institute global survey of mining companies found Queensland’s investment attractiveness fell from 12th to 13th place of 83 jurisdictions around the world.  Queensland’s Sister State of Nevada is number one.

“The appointment of Ross Buchanan gives our industry a global investment commissioner with experience in a key market and source of investment for our industry – Japan – and first-hand experience working with Macarthur Coal and Peabody Energy.”

Mr Macfarlane said with the resources sector employing more than 316,000 Queenslanders, delivering 81 percent of the state’s record $87 billion export earnings over the last 12 months and contributing more than $5 billion in royalties to the State Government, new and continued investment in Queensland resources and energy projects was critical.

Mr Macfarlane said the QRC and its member companies looked forward to working with recently appointed TIQ chief executive officer Paul Martyn and Mr Buchanan to work on:

• developing a collaborative work program to deliver on the Premier’s “working together” commitments to the QRC to improve exports, exploration and expertise and address areas of declining sentiment identified by the Fraser Institute survey;

• releasing an update on the investment resources and energy project pipeline; and

•  providing regular briefings for TIQ and its commissioners based in markets around the world, including a joint meeting with all commissioners during Export Week in October.

www.qrc.org.au

ends