Federal Minister for Resources and Water Keith Pitt explores the strength of Australia’s pandemic-struck mining and resources sector.
Mining profits reached a record $55 billion, or close to $600 million per day, in the June quarter this year.
The overall Australian economy grew just 0.7 per cent.
These Australian Bureau of Statistics figures were better than expected though, with Australia’s overall performance serving as a sobering reminder of the economic volatility inflicted by COVID-19 where ongoing lockdowns continue to plague business and stunt economic growth.
This underlined the significance of the fact the mining and resources sector has managed to stay strong during the pandemic – generating value profits, taxes and royalties and protecting the jobs of hundreds of thousands of Australians.
The International Mining and Resources Conference (IMARC), Australia’s largest mining event which highlights and celebrates the importance of this industry, decided to postpone its conference to January 31 to February 2 because of the lockdowns in Melbourne.
IMARC is one of the most important conferences in the country, offering companies the opportunity to showcase projects, network with other mining companies and related industries, and to stand up and be proud of our resources sector.
Our industry is powering the Australian economy and at all levels of government we need to be loud and proud of what the mining industry has done and continues to achieve.
Australia’s mining and energy sector is a $310 billion industry and directly employs more than 270,000 people across the nation.
Together with mining services, the resources sector accounts for more than 11 per cent of Australia’s economic activity.
The mining sector’s resilience has been underscored by its success during COVID-19.
Mining has always been the lifeblood of the Australian economy, it is therefore important to discuss and celebrate the industry’s strong future and emerging new opportunities at a conference like IMARC.
As Australia’s premier resources sector event, IMARC offers the sector a unique face-to-face opportunity to come together after more than 18 months of COVID-19 restrictions.