Export results of Queensland recourses sector hits all time high

Queensland Resources Council Chief Executive Ian Macfarlane said the resources sector contributed almost US$60 billion – or 80% – of the result.

“For every AUS$10 that Queensland earns through exports, the resources sector contributes eight of those 10,” he said.

“This is a tribute to the more than 280 000 Queenslanders working directly and indirectly in the resources sector. To those men and women, Indigenous and non-Indigenous, in the regions and the southeast – please accept the congratulations on behalf of all Queenslanders.”

Over the last 12 months:

• Coal exports increased by AUS$5 billion or 18% to AUS$32.8 billion.
• Mineral exports increased by AUS634.2 million or 9.3% to AUS$7.4 billion.
• LNG, alumina and semi-soft coking metallurgical coal to AUS$20.9 billion of exports classified as confidential. This category of exports increased by AUS$3.8 billion or 22%.

Macfarlane said Premier Annastacia Palaszczuk was correct to highlight the increase in coal exports was due to a recovery from the devastating impact of Tropical Cyclone Debbie in March and April 2017.

“What the Premier, the coal industry and Queenslanders do not know is how monopoly rail operator Aurizon will apply its threat to stop up to 20 million t of coal reaching export ports in central Queensland. If Aurizon follows through with its threat, we estimate a AUS$4 billion cut in coal exports,” he said.

Macfarlane said the Palaszczuk Government last year set itself the target for Queensland to be the source of 22% of national exports annually until 2022.

“The latest trade figures put Queensland at 23%, ahead of its target. Without resources sector exports, Queensland would provide only 4.4% of the nation’s overseas trade. Without coal exports, it would be only 13%,” he said.

Read the article online at: https://www.drybulkmagazine.com/dry-bulk/05072018/export-results-of-queensland-recourses-sector-hits-all-time-high/