Coal remains Queensland’s biggest export, making up 40% of the State’s total exports.
Queensland Resources Council (QRC) Chief Executive Ian Macfarlane said Queensland coal is the commodity of choice for Asia and the State’s economy is benefiting from key trade links with growing economies. The State’s high quality coal is not only supporting the jobs of more than 215 000 men and women but continues to be the central commodity driving exports.
“Queensland has an advantage over other states with its close proximity to the economies of China, India and Japan. Every quarter we see export data repeating a common theme – the world needs our metallurgical coal to make steel needed for building modern cities and our high quality thermal coal is delivering tomorrow’s energy needs through high efficiency, low emission coal-fired power plants,” Macfarlane said.
Coal exports contributed AUS$36.3 billion – an increase of AUS$5 billion or 16% over the previous 12 months. In total, the resources sector made up AUS$68.2 billion which helped Queensland post a record AUS$84.3 billion in exports until the end of March this year.
“Together with minerals, LNG, alumina and semi-soft coking metallurgical coal and PCI coal, the resource sector’s diversity story can cushion the economy against commodity fluctuations.
“For every AUS$10 Queensland earns from exports, AUS$8 is for our resource commodities and this will continue to grow with global growth.
“316 000 Queensland jobs supported by the resource sector depend on global trade.
“Queensland has great prospects in copper, zinc and dozens of other new economy minerals, but we will only secure investment in these new projects if we can offer stable and sensible policy settings to global investors and customers.”News Source: World Coal