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Virus spikes return

of confidence

ueensland’s State of the Sector re- royalty taxes and a clear framework for ince of Queensland was seeing heathy
Qport indicated that mining chief exec- environmental assessments and approv- interest from companies looking for the
utives on the sunshine coast were gear- als,” Macfarlane said. ingredients – copper, gold and zinc – in-
ing up to bolster their workforces. With a state election scheduled for tegral to the new technology future.
In the Queensland Resources Coun- October, Macfarlane said he would be Teck Resources Ltd was one major
cil (QRC) CEO Sentiment Survey, more pushing the importance of a long-term boosting its capacity in the zinc space
than half of QRC member chief execu- plan to attract new resources invest- after it was granted 100sq km of ground
tives were expecting to employ more ments across a range of commodities to near Cloncurry to explore.
people, with 20% on track to increase the Government, opposition and cross- It is still hoped that when the economy
their workforce by more than a quarter. bench. and mining industry find their feet again,
The report was done when the corona- Up until the impact of the coronavirus Teck’s presence will provide a “huge shot
virus pandemic was concentrated in Chi- started to be realised in Australia, there in the arm for the local economy” in Clon-
na and according to Westpac’s February was a renewed confidence in Queens- curry.
Labour Force data, employment across land’s resources sector, which was trans- The return to more certain days will no
Australia outperformed expectations. lating into an increase in exploration. doubt see companies in Queensland and
However, Westpac forecasts that the Coal exploration was of course high in across the world maintain their commit-
unemployment rate in Q2 to reach 11.1%; the State, however, the North West prov- ments to new technologies and a diverse
a situation Australia has not faced energy mix to help contribute to a
since the 1990s. lower carbon world.
QRC chief executive Ian Mac- Macfarlane was pleased to relay
farlane acknowledged that circum- that 40% of resources chief execu-
stances had drastically changed and tives surveyed last year across all
vowed to continue working with all commodity sectors in the State re-
levels of government to ensure that ported they were currently investing
safety for staff, communities and the in R&D of low emission technologies
State was the priority. ranging from carbon capture to en-
Like in Western Australia, mining ergy efficient projects.
was declared an essential activity in The survey revealed that 53% of
Queensland with protocols to be im- chief executives were planning to
plemented by the State Government spend more on reducing emissions
around safe FIFO operations. and 20% had budgeted to substan-
While there is cooperation at all tially increase their spending in the
levels to ensure Queensland’s re- area.
sources sector is in the best position “Energy efficiency, sometimes
possible once the coronavirus is con- called the fifth fuel, is the cheapest
tained, the QRC hopes that the future and cleanest energy of them all,”
of the sector runs under better policy Macfarlane said.
conditions. “When asked about renewables,
“In the past 12 months there have 90% [of the survey respondents] view
been several examples that have the energy source as an opportunity,
raised industry concern about policy but are equally concerned that with-
out careful planning, intermittent gen-
and consultation on significant issues Ian Macfarlane eration can risk energy security and
consultation in important issues, such as “ Small increases to reliable access to low-cost energy and it
that could affect investment and jobs,”
affordability.
Macfarlane told Paydirt.
“Queensland’s economy was built on
Macfarlane used the proposed expan-
sion to the area of land locked up from
remains a vital ingredient for the success
gas development in western Queensland
energy costs have
of the resources sector. Small increases
under the Pristine Rivers policy; a 25%
a large impact on trade
hike in the gas royalty rate; and lack of
trade exposed industries and lowers our
international investment profile. Queens-
methane regulations and cultural herit- exposed industries and to energy costs have a large impact on
age, as matters to be addressed. lowers our international land’s energy mix must be affordable, re-
“It is essential that Queensland has investment profile. liable and help lower emissions.”
policies that provide clear, consistent – Mark Andrews
and transparent regulations and time- Queensland’s energy mix
frames for project applications and as- must be affordable, reliable
sessments. It is equally as important to
have a stable and transparent system for and help lower emissions.
aUSTRaLIa’S PaYDIRT aPRIL 2020 Page 35