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Queensland Resources exports bring home billions in 2018

Coal News - Published on Fri, 08 Feb 2019

Image Source: iv_g - LiveJournal
Queensland coal exports in December capped off a resurgent year for the Queensland resources sector, going up in value by more than 15 per cent in 2018. Queensland Resources Council Chief Executive Mr Ian Macfarlane said the stellar figures based on data from the Australian Bureau of Statistics reinforced the importance of our state’s commodity exports to all Queenslanders.

Mr Macfarlane said that “2018 was a year of record royalty tax returns and record exports buoyed by the resources sector. Queensland’s exports are worth AUD 81.7 billion, up more than 16 per cent over the last year. The resources sector accounts for eighty per cent of our state’s exports, through our highly sought after coal, gas and minerals.

Mr Macfarlane said that “Our coal exports are the most valuable, worth AUD 35.7 billion. That coal is exported to build cities and infrastructure around the world, and to provide high-efficiency, low-emissions energy. In return our exports bring in returns for all Queenslanders to build schools, roads and hospitals and pay for teachers, nurses and police.

“This year, the resources sector will pay a record $5.2 billion in royalty taxes to boost the Queensland budget.

“Overall, coal exports went up 15.7 per cent in 2018, while minerals went up 14.3 per cent in value.

“Our resources sector has created these returns while using just 0.1 per cent of the state’s land, and while working cooperatively with other industries such as agriculture and tourism.

“A strong resources sector delivers benefits for all Queenslanders, not only the 316,000 people who work in the sector or in associated jobs.

“These values reinforce the need for an investment pipeline for the future, to keep delivering returns through new projects.

“Queensland must have stable, consistent and transparent regulation to ensure we attract new investments to our resources sector and create new jobs.”

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Posted By : Ratan Singh on Fri, 08 Feb 2019
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