Data released by the Queensland Resources Council demonstrates the huge importance of the resources industry to regional and state economies, according to Resource Industry Network.
The total economic contribution to the Mackay economy increased by 36 per cent during the past financial year, going from $12.2 billion in 2018-2019 to $16.6 billion for the 2019-2020 financial year.
RIN general manager Dean Kirkwood said the current figure accounted for 55 per cent of Mackay’s total gross regional product and contributed directly and indirectly to more than 97,000 fulltime jobs in the region.
“The QRC data backs up what RIN has been saying all along about the enormous importance that resources play in our region and its contribution to the whole of Queensland,” Mr Kirkwood said.
“This data also shows that $4.5 billion in mining royalties was shared throughout the state to the benefit of every Queenslander.
“Our vibrant METS sector plays a massive role in keeping the resources sector operational and a world leader in productive and efficient mining practices, and their role should be acknowledged.
“It should be noted that Mackay is ranked second in economic contribution to the Queensland economy and clearly demonstrates our strength as a region.
“This strength continues to evolve as our sharp-minded METS sector continues to innovative and diversify into other markets and increase their export capacity to service a global market.”