Olive Downs project progress promises more jobs, investment, exports, royalties for Qld

THE Queensland Resources Council has welcomed the Palaszczuk Government’s release of the Environmental Impact Statement (EIS) for the new coking coal mine, Olive Downs, in central Queensland.

QRC chief executive Ian Macfarlane said Pembroke’s $1 billion Olive Downs project, near Moranbah, would further strengthen the resources sector’s contribution to the Queensland economy.

“Currently the resources sector in Queensland is creating a new job and investing $1 million every hour while exporting $1 billion every week and delivering almost $100 million to the Palaszczuk Government every week,” Mr Macfarlane said.

“Olive Downs is a milestone project for Queensland which will create 500 jobs in the construction phase, 1000 once operational, produce 15 million tonnes of coal every year and will be one of the largest open cut coking coal mines in the world.”

Mr Macfarlane thanked State Development Minister Cameron Dick and Isaac region Mayor Anne Barker for their support of the resources sector.

“This is a clear and practical example of all levels of government working together to provide big city economic opportunities in regional towns of Moranbah, Dysart, Nebo, Middlemount. Jobs in the resources sector are high-tech and well-paid jobs with the highest average weekly full-time adult earnings of any industry at $2659 – or over $138,000 per annum,” he said.

“This is more good news for Queensland’s coal industry and highlights the strong fundamentals of Queensland’s coking coal from the Bowen Basin. It’s high-quality coal, close to ports and is produced at a lower cost to other markets including the US.”

The Queensland resources sector now provides one in every six dollars in the Queensland economy, sustains one in eight Queensland jobs, and supports more than 16,400 businesses across the State – with almost 7000 businesses in the Greater Brisbane region – all from 0.1 per cent of Queensland’s land mass, according to the QRC.



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