Mining still driving QLD economy

Despite facing a number of economic hurdles this past year, mining is still the backbone of Queensland's economy.

 Despite facing a number of economic hurdles this past year, mining is still the backbone of Queensland’s economy.

According to the latest figures from the Queensland Resources Council (QRC), the mining sector provided one in every five dollars of the state’s economy through spending in Queensland, and supported one in every eight jobs in 2010-11.

QRC head Michael Roche said this latest economic impact report, compiled from information gathered from mining companies, stated that the industry generated around $25.2 billion for the state economy in the financial year; a 13% increase on the previous year’s spending.

This multi-billion dollar stimulus contribution "involved disturbance of just a tiny 0.09 percent of the state’s land mass by mining and gas operations," Roche said.

"It’s a very small footprint, for a very large gain.
"Importantly, what the results show is that spending is spread right across Queensland, with barely a postcode not experiencing the benefits of economic stimulus from the sector," he added.

On top of this, the recently released Queensland Resources Sector Growth Outlook Study (GOS) of the mining industry highlighted 66 projects either under study, committed to, or under construction – representing a combined capital expenditure to 2020 of a substantial $142 billion.

"The GOS finds that if all the identified projects proceed, the resource sector could require an additional 40,000 workers in direct resource sector roles, generating an additional four to five jobs throughout the state for every direct resource sector position that is created," Roche said.
"However I’m confident that with industry, governments and communities working closely together, these are challenges we can meet."

The QRC has also created a website which allows viewers to type in their postcode, town, or city, and find out how the mining industry affects them.

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