Queensland Resources Council (QRC) Chief Executive Ian Macfarlane said the sector is a key driver of growth in Queensland and its top drawer deposits are in high demand.
He explained: “Despite the predictions of green activists, the value of thermal coal exports surged 18% while the worth of LNG exports lifted 15%. Demand for these commodities is expanding from both developing economies in Asia and established economies.
“Thermal coal and LNG increased 34% and 36% in value over the 12 months. A good sign the global economy is healthy is reflected in copper demand and the base metal outshone all other commodities over the three months achieving 60% growth. The copper story in Queensland looks good with the Australian Bureau of Statistics recording a 41% jump in exploration funding last week.
“Coking coal was still feeling the effects of Cyclone Debbie down for the quarter but still achieved a 23% increase in value over the year.
“Resources are the state’s largest export industry which last year generated more than 70% of total merchandise export value and supported close to 300 000 jobs including a 12% lift in full time employment.”
