QRC welcomes LNP election commitment to back resources sector

THE Queensland Resources Council has welcomed today’s commitment by the LNP that if elected it would work closely with the resources sector to get Queensland jobs and the economy back on track post-COVID.

As the peak body for Queensland’s coal, metals and gas explorers, producers and suppliers, the QRC has spent months seeking comprehensive commitments from both major parties and key crossbenchers in the lead-up to the state election this Saturday.

QRC chief executive Ian Macfarlane said the LNP had been very clear about its support for the resources sector during its election campaign and had acknowledged the key role resources has played during COVID to maintain production levels and keep tens of thousands of employees working and earning.

“New economic contribution data shows the mining, gas and energy sector supports one in five jobs across Queensland and has been a bedrock of financial support and stability for the state economy during COVID-19,” Mr Macfarlane said.

The QRC has welcomed the LNP’s commitment to:

• open the Galilee Basin to develop $50 billion worth of projects;
• a new Queensland Infrastructure Fund to collect and invest royalties from the Galilee Basin in new state infrastructure;
• maintain current royalty rates for coal, metals and gas for 10 years;
• grant approvals for New Hope’s New Acland Stage 3 project;
• appoint a Queensland Resources Industry Commissioner to promote the state to international investors;
• implement an industry development plan to support the sector’s future growth;
• encourage exploration to uncover new discoveries for coal, metals and gas;
• commit to a 12-week consultation period on regulatory changes that may impact on the sector;
• streamline assessment and approval processes for new and expanded projects;
• promote the development of the North West Minerals Province, particularly for critical minerals to support the growth of advanced manufacturing, battery storage and renewable energy; and
• progress the CopperString project in the state’s North West in partnership with the Federal Government.

Mr Macfarlane also welcomed the LNP’s commitment to not form a minority government or enter a power-sharing agreement with the Greens, whose policies would jeopardise the sector’s viability and push those Queenslanders who work in or because of the resources industry out of work. 

“The Greens believe it’s their job to cost hard-working Queenslanders theirs,” Mr Macfarlane said.

“The Greens have promised to increase royalty taxes imposed on the industry by five times, making the industry and those jobs unviable.”

Mr Macfarlane said the Katter Australia Party and its leader Robbie Katter had also been a strong advocate for the resources sector and had endorsed key elements of the QRC’s election agenda including the 10-year royalty freeze, streamlined approval and assessment processes and an industry development plan.

www.qrc.org.au

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