The Queensland Resources Council (QRC) has welcomed the release of the State Government’s North West Queensland Economic Diversification Strategy, and said it was important to strengthen the resources sector and ensure it continues to develop alongside other key industries.
QRC Chief Executive Ian Macfarlane said the resources sector would continue to be the main economic driver of the region, but all sectors would benefit through a plan to grow the region and encourage more investment.
“North West Queensland is a resources heartland,” Mr Macfarlane said.
“The resources sector supports almost 10,000 jobs and makes up $1.7 billion, or more than a third, of the region’s economy.
“It is already delivering for our state and it is also one of the most prospective regions of Queensland for new exploration, new investment and new jobs.
“The North West Minerals Province is rich in potential for critical minerals that are the building blocks of just about every part of our lives, including rare earths.
“The Geological Survey of Queensland has an estimated $40 billion dollars of geological information and explorers are combing through these rock libraries for clues to where the next deposit of new energy minerals might be found.
“Queensland has a world class reputation in metallurgy and minerals processing, which stands us in good stead for refining and recovering these new energy minerals.
“They will also be in growing demand on global markets, so it is important that Queensland seizes the opportunities for ongoing resources investment in the North West.
“It is important that investments in energy infrastructure, including supply and transmission, provide opportunities for common user projects, which was identified as a priority in the Strategic Blueprint for Queensland’s North West Minerals Province.
“Expanding energy opportunities in the North West will not only power the resources sector for example in mineral processing, but it will provide the reliable electricity needed to support other industries in the region including agriculture, and support the development of towns and communities.
“QRC has also welcomed the Palaszczuk Government’s commitment earlier this year to upgrading the Townsville to Mount Isa rail line and reducing rail charges.
“The opportunities for resources development in the North West could help secure Queensland’s role as a resources superpower for decades into the future.
“We are calling on both the State and Federal Governments to continue to provide incentives for exploration and development, such as the $100 million Exploring for the Future program from the Australian Government.
“Investment in common use infrastructure, exploration and supporting industries can all help deliver on the full potential in the North West.”
