A fresh start for Queensland's resources sector

A fresh start for Queensland's resources sector

The Hon. Dale Last MP, Minister for Natural Resources and Mines

In the wake of the recent change in State government from Labor to the Liberal National Party (LNP), the new Minister for Natural Resources and Mines, the Hon. Dale Last MP has made it clear: under the LNP, business will benefit from a fresh approach to working with government.

Speaking at the 2024 Queensland Resources Council Luncheon, Mr Last explained the LNP’s priorities for reinvigorating an industry critical to Queensland's prosperity, while simultaneously addressing the complex challenges of environmental sustainability, future energy infrastructure and workforce development. Firstly, he acknowledged the economic significance of the resources sector.

Resources: Queensland’s economic backbone

"This is the sector that puts money into the bucket," he said - a statement that resonates particularly in regions like the Burdekin, Mr Last’s electorate for many years, and where over 60% of Queensland's coal mines daily demonstrate the impact of the sector on local mining communities and economic productivity.

More than just a statistical powerhouse, over 70,000 Queenslanders work in the resources sector, while its economic reach extends far beyond direct employment into local communities, supporting businesses and underpinning state revenue.

The government's approach marks a dramatic departure from previous administrative models. The Minister stated, “No longer will projects and opportunities languish for years without a decision from the Government. Industry, investors, and communities will get a clear message from us. It's a yes or it's a no. There will be certainty one way or the other.”

The government intends to signal to investors and industry stakeholders that Queensland is serious about facilitating growth.

As publicly stated before and after the election, the LNP Government will maintain the existing mining royalty regime. However, the government is committed to openly sharing their vision for the future of the resources sector and keeping to their word to provide an economic environment built on clarity, certainty and consistency.

Queensland is open for business.

A strategic approach to approvals and investment

At the heart of this new approach is the newly instituted Resources Cabinet Committee—a high-powered body to improve consultation with the sector and encourage investment in our resources. The committee will bring together the Minister for Resources, the Treasurer, the Minister for Environment and the Deputy Premier who has responsibility for state planning.

Meeting monthly, this committee will represent an unprecedented level of cross-departmental collaboration designed to identify and dismantle systemic obstacles to resource sector development.

Another strategic change is the government’s proactive approach to clearing a substantial backlog of renewal license applications, some dating back to 2019. Six approvals had already been granted in the first three weeks of the new government under existing environmental standards. The message is unambiguous: decisions will be timely, transparent, and grounded in thorough assessment.

Minister Last explained, “If we're serious about bringing investors to this State, we want to give them the certainty that that approval process will be streamlined, that it will be efficient, that those decisions will be made in a timely manner. You need that certainty, and we owe you that certainty as a government here in Queensland.”

“To further underpin our commitment to certainty, our Government will foster a taxation and regulatory environment built on stability and which will deliver strong investor confidence in Queensland. We want our investor partners back, and for them to know that Queensland is open for business. We'll create the economic environment where existing Queensland businesses and industries can expand and grow.”

Balancing development and the environment

Environmental considerations remain paramount in the government's approach. For example, the government is planning a nuanced strategy for regions like the Lake Eyre Basin, where multiple interests—mining, cattle farming, tourism, and conservation— must coexist harmoniously.

Queensland's energy and infrastructure roadmap

The government's future energy strategy focuses on creating an affordable, reliable, and sustainable energy mix that supports Queensland's economic growth. At the heart of this approach is a commitment to balancing existing infrastructure with forward-looking investments:

• Public asset management

The administration will implement an electricity maintenance guarantee on government-owned coal-fired power plants, emphasizing full transparency and accountability of maintenance requests. With approximately 6 gigawatts of government-owned supply available in the market, the focus is on ensuring these existing assets are run reliably and responsibly.

• Renewable Infrastructure Development

Key infrastructure initiatives include:

• Progressing early work on the Borumba pumped hydro project at Lake Borumba, located near Imbil, west of the Sunshine Coast

• Investigating additional smaller pumped hydro schemes in partnership with the private sector

• Developing a code of conduct for the renewable energy industry with a specific focus on:

• Addressing community legacy benefits

• Resolving current community concerns about renewable projects

The roadmap reflects a pragmatic approach to energy development by seeking a balance between economic opportunities, community interests, and infrastructure requirements, and recognising the role of the resources sector as a critical partner in Queensland's economic future.

By maintaining existing assets while exploring new technologies like pumped hydro, the government signals its commitment to a measured, thoughtful approach to Queensland's energy future.

Investing in our future workforce

Recognising that the resources sector's future depends on attracting and developing talent, the government is making significant investments in education and skills development.

The Queensland Minerals and Energy Academy will expand to 50 additional schools, directly challenging the narrative that has discouraged young people from considering careers in mining.

"School students should be proud to say they want to work in the resources sector, and understand the value of a career in resources," the Minister emphasised. The planned expansion directly addresses the pipeline issues exacerbating industry-wide workforce shortages and aims to inspire the next generation of resources sector professionals.

Looking forward: Queensland is open for business

Commenting on the recent elections and reiterating the new Government’s strategy, the Minister stated, “Queenslanders have spoken, and they have backed our plan to shape Queensland's future. As a Government, we will restore safety wherever Queenslanders live. We'll respect taxpayers' money, and we'll redesign the way the Government works for Queenslanders.”

“But to do this, we need a robust and vibrant resources sector. And I can also promise you that we will work with you and that our belief in competition and productivity will continue to move us forward. We value our resources industry, and I ask that you judge us on our actions.” 