Queensland Resources Council’s (QRC) ‘State of the Sector’ report has shown its member companies remain optimistic about continued strong demand for Queensland’s commodities.
However, the report identified government policy and regulatory uncertainty as the biggest concern for the state’s resources sector.
QRC chief executive officer (CEO) Janette Hewson said the report shows there is good reason to be optimistic about the industry’s future, if government can get the policy setting right.
“As the state election approaches, our message to all political parties is that balanced, stable and consistent policy settings are critical to securing the investment that will ensure the resources sector can continue to underpin Queensland’s economic prosperity in the decades ahead,” Hewson said.
“The global energy transition is presenting new opportunities for all Queensland’s resources, from coal, gas, metals and critical minerals.”
The QRC is calling on political parties to listen to the industry’s concerns.
“The royalties increase has added to rising operating costs, which have been identified by member companies as another significant concern for the industry,” Hewson said.
The report also shows the resources sector’s commitment to taking action to reduce emissions and waste.
“50 per cent of CEOs say their companies already use renewable energy to power parts of their operations and 67 per cent plan to make further investments to reduce emissions,” Hewson said.
“Companies are continually looking at new ways to reuse or recycle with 36 per cent saying they’ll be making further investments on new initiatives.”
The full report can be read on the QRC website.
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