Queensland mining and energy companies have committed to a voluntary code of practice designed to strengthen ties with suppliers and boost local content.
The code was tabled in the state parliament yesterday, and Queensland Resources Council CEO Michael Roche said in a statement the policy would help strengthen the economy.
“The code presents enhanced opportunities for local industry participation in major projects, allowing resource companies to tailor their approach, based on their individual circumstances,” he said.
“It replaces and improves upon the 'tick-a-box' regulatory approach embraced by both the previous state government and current federal government using a system built on giving local businesses a 'full, fair and reasonable' opportunity to be a supplier to resource projects in QLD.”
Progress and outcomes from the policy will be reported publicly, and QLD Deputy Premier Jeff Seeney said local companies had to “rise to the challenge of competing with the best”.
Roche said in drawing up the guidelines the QRC has consulted its member companies as well as representatives from a number of supplier groups and government officials.
The implementation of the new policy will be overseen by a Code Steerling Committee made up from resource sector procurement experts and representatives from the Australian Industry Group and Australian Steel Institute.
You can read the full code here.