Tag: Queensland Resources Council chief executive Ian Macfarlane

Mount Isa in Queensland.

QLD’s $116.8b benefit as QRC warns against coal royalty tax

Queensland’s resources sector has delivered a record $116.8b in economic benefits in FY23 and supported over half a million jobs in the State, according to the Queensland Resources Council’s (QRC) annual Economic Contribution Report released today. This is $22.2b more than FY22, representing one in four dollars spent in Queensland, with QRC chief executive Ian Macfarlane saying that this shows what is at risk from the State Government’s introduction of the world’s highest coal royalty taxes on the sector. “Queensland’s current prosperity is the result of decades of past investment by mining and energy companies from all around the world as well as by companies based right here,” he said. “Unless that level of large-scale, long-term investment continues, Queensland’s economy…

North Queensland Mining: Old king coal

North Queensland Mining: Old king coal

ACCORDING to the Queensland Resources Council (QRC), the resources sector added $74.3b to the State’s economy in 2018-2019 – and with new mining developments underway, the economy is set to grow even further in 2020 and beyond. QRC Chief Executive Ian Macfarlane said the sector already supports more than 316,000 jobs across the state, earns 80pc of Queensland’s exports and generates more than $5b in royalties for the State Government. “Queensland’s resources sector is now supporting one in every seven jobs, and one in every five dollars for Queensland’s economy,” Mr Macfarlane said. “That means from Burleigh Heads to Brisbane and from Mackay to Mount Isa, the resources sector is powering local economies and employing local people. “This year’s figures…

Queensland’s new $1b coal mine

Queensland’s new $1b coal mine

THE Qld Department of Environment and Science has granted Pembroke Resources environmental authority (EA) for its 100pc owned Olive Downs coal project in Central Queensland. The EA authorises the activities for Olive Downs’ 79-year mine life, and provides the conditions for the operation of the mine. The 813mt open cut JORC resource holds a 2bt underground target, with 514mt open cut JORC reserves, and is a similar size to Adani’s Carmichael mine. Pembroke said that 90pc of the coal would be used for steelmaking. Pembroke chief executive, Barry Tudor, said the company was “looking forward to Federal Government approval under the Environment Protection and Biodiversity Conservation Act, and the granting of a mining lease so that it can begin construction”.…

Freight fast track

Freight fast track

THE Queensland Government has promised half a billion dollars for the development of a new freight terminal at the Port of Townsville and discounted freight charges to boost exports along the Mount Isa rail line. Deputy Premier and Treasurer Jackie Trad said the funding would promote mining and exploration in the state’s North West, which contains about 75pc of Queensland’s base metal and minerals, including copper, lead, zinc, silver, gold and phosphate deposits. “Our state’s economy is stronger when we have a reliable supply of minerals for export,” Ms Trad said. “A number of mines are trucking minerals from the North West to the port, and the trains that are carrying minerals in shipping containers have to be unloaded at Stuart…