Feb 14, 2019

Statement outlines resources sector’s potential

Statement outlines resources sector’s potential The Federal Government has released a document detailing how to make the most out of the country's multi-billion dollar resources sector.

The Federal Government’s release of a National Resources Statement will reinforce Australia’s position as a global leader in the resources sector, according to Minister for Resources Matthew Canavan.

Senator Canavan said the statement outlined how the Government would attract investment, develop new resources and markets and share the benefits of success with more regional communities.

“This is the first such statement for more than 20 years,” he said.

“There is a bright future for the resources sector, given the economic growth occurring in our region.

“By 2030, Asia will produce more than half the world’s economic output, consume 40 per cent of its energy and be home to a middle class of almost 3.5 billion people.

Resources Minister Matthew Canavan.

“Given this growth, and if Australia can maintain its global share of commodity production, at least 24,000 new direct mining jobs could be created, along with the broader prosperity those jobs will bring.

“The Government’s vision is to have the world’s most advanced, innovative and successful resources sector which delivers sustained prosperity and social development for all Australians.”

Senator Canavan said the Government would focus on five key priorities: attracting investment; developing new resources, industries and markets; investing in new technologies (to improve environmental outcomes); creating well-paid secure jobs; ensuring local communities receive benefits from mining activities.

“Some elements will be progressed in collaboration with the states and territories through the Council of Australian Governments Energy Council, given their responsibilities in regulating the resources sector,” Senator Canavan said.

“This includes an agreement to establish a new critical minerals work program to boost exploration, develop a data strategy to de-risk investment decisions, and build community confidence in the sector.

“The National Resources Statement builds on the recommendations of the Resources 2030 Taskforce commissioned by the Government last year.”

Queensland Resources Council chief executive Ian Mcfarlane welcomed the release of the National Resources Statement and said it represented an important signal about the ongoing value of the resources sector for all Australians.

QRC chief executive Ian Mcfarlane.

“The statement maps a long-term future for resources … and this is good news for all Queenslanders, given the spread of mining communities across our state,” Mr Mcfarlane said.

“It’s particularly good news that the statement sees a future where at least another 24,000 direct jobs are created in Australian resources.

“The resources sector is rich in potential, but we must have a plan to capitalise on our opportunities.”

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