Report shows mining CEOs want for consultation

The Queensland Resources Council (QRC) says a new report has found that uncertainty created by Government policy and regulation changes is overshadowing optimism over new opportunities for the state’s resources sector. The latest QRC State of the Sector report confirmed Queensland resources companies are ready to embrace the opportunities from the transition to a decarbonised future. 47 per cent of CEOs say they are likely to invest in technologies and projects to reduce emissions according to the State of the Sector report said QRC Chief Executive Ian Macfarlane. “That includes the use of fuel reduction, carbon capture and the use of electric trucks. QRC CEO Ian Macfarlane “Close to a third are already relying on renewable energy to power part of their operations, and we expect that figure to grow rapidly in coming years. The State Government needed to consult with the mining industry to achieve the best outcome for Queensland, said Mr Macfarlane. “Queenslanders are now more aware than ever of the importance of our resources sector and understand the need for policies that promote future investment and jobs,” Mr Macfarlane said. “However future investment in new projects and jobs, including in the minerals needed for a lower emissions future, is not guaranteed. “It’s clear that sudden changes to policy, particularly the Queensland Government’s decision to impose the world’s highest coal royalty tax, is acting as a handbrake on the state’s resources sector,” Mr Macfarlane said. It was encouraging that 41 per cent of QRC member company CEOs said the transition to a decarbonised future would lead to increased demand for Queensland resources said Mr Macfarlane. “That includes the rare earths and critical minerals to build and power future technologies, as well the metallurgical coal to provide the steel for the wind turbines, EV’s, transmission towers and other infrastructure necessary to reach our lower emissions targets,” he said. “But without the right policy settings from Federal and State Governments, Queensland’s resources sector risks missing out on the investment in new projects to make the most of the emerging opportunities. “There is a pipeline of projects worth more than $100 billion in a range of commodities, including those needed for low emissions energy and net zero technologies that is now under a cloud because of the policy uncertainty in Queensland. “We again call on the Queensland Government to work with the industry to achieve the best outcome for our state.”

Report shows mining CEOs want for consultation

Industry Queensland

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