You can count on us: the resource sector powers on Ian Macfarlane, Chief Executive, Queensland Resources Council The end of 2021 will be a milestone for many Queenslanders. Almost two years since the start of the COVID-19 pandemic, many people will be reflecting on just how much the world has changed and how hard we have worked to return to our pre-COVID reality. The good news is we have had some significant successes this year, and with increasing rates of vaccination we are now tantalisingly closer to “normal”. While COVID will always be with us, Queenslanders do have cause to be optimistic. For those in the Queensland resources sector, the end of the year brings the same opportunity for reflection and goal setting for the future. In some ways, the end of 2021 sees the sector in a similar position to where we were 12 months ago. In 2020, the Queensland resources sector was one of the beacons of strength that kept local economies ticking and kept local families in their jobs, despite the period of deep uncertainty. You could count on us to keep Queensland strong. ECONOMIC CONTRIBUTION In 2021 the resources sector has been resilient once again. Each year, the Queensland Resources Council releases data showing the economic contribution of the sector to the state and in each region. 14
BBMC Yearbook 2021
Our most recent figures show the sector supported more than 420,000 jobs. That includes more than 56,000 direct jobs. For every one of those jobs, there is a multiplier effect for local communities and local small businesses.
newest metallurgical coal mine between Moranbah and Dysart. Vitrinite’s Vulcan Complex project is expected to create at least 150 full-time jobs and create revenue for the state over its 15-plus life span.
For example, in the Mackay/Isaac/ Whitsunday region, the resources sector creates more than 17,000 direct jobs and supports another 65,000 jobs in associated industries. Many of these jobs are in small businesses that service the sector.
Queensland has also welcomed the first coal from the re-opened Millennium metallurgical coal mine at Coppabella in central Queensland. The mine near Moranbah is a joint venture between Stanmore Resources and M Resources and was officially restarted in July, creating 330 jobs. It’s expected exports from the mine will begin by the end of the year.
Overall, the resources sector created $84.3 billion in economic activity for the state. At any time this would be a major contributor to Queensland, but it is especially the case as the state makes its way towards a COVID recovery. The resources sector has a long history of working in partnership with regional Queensland, and we have been proud to continue this tradition even in the challenging circumstances created by the COVID pandemic. NEW INVESTMENTS In 2021, we have seen both the resilience and diversity of the Queensland resources sector. The year has been notable for investments in new and revived projects, both in our economic powerhouse sectors of coal and gas, and in new economy minerals that will underpin future growth. In the past few months, we have welcomed the approval of Queensland’s
Alongside these valuable coal investments there has also been significant investments in other minerals, including vanadium, which is one of the essential new economy minerals. The granting of mining leases for Multicom Resources’ $250 million Saint Elmo Project in the Julia Creek region will see the state’s very first vanadium project shift into production phase. This marks the start of Queensland’s strategic move to become a globally significant supplier of the in-demand new economy minerals needed to decarbonise the world. Vanadium is used in a range of green technologies and products, though is most well-known for its ability to strengthen steel, and is already used in space vehicles, nuclear reactors and aircraft carriers.
