Queensland mining boom far from over, AMMA says

The approval of four mining and related infrastructure projects in Queensland shows that the mining boom is far from over, according to the Australian Mines and Metals Association (AMMA).

The Queensland government has just approved the $20 billion Arrow Energy LNG facility for Curtis Island and the related gas transmission pipeline, the Adani TO coal project and the development of three significant coal export terminals at Abbot Point.

“Collectively, these significant resource industry projects would create more than 5000 new construction-based roles in Queensland and inject many billions of dollars into the economy,” said AMMA Chief Executive Steve Knott.

“This is a very welcome decision from the federal government, following the Queensland Government’s timely progression of these significant projects through the state approval processes.

“These wealth-creating developments are just four of more than 300 projects in Australia’s resource industry investment pipeline, representing about $500 billion of capital.

“Coupled with this week’s approvals, this future potential puts to bed any pre-election nonsense that Australia’s resources boom is coming to a rapid end.

“To secure this future investment pipeline and the solid benefits, taxes and royalty streams that will come from an increased and efficient production phase, our nation needs everything going in our favour, including removing unnecessary red tape that only leads to project delays.”

AMMA congratulated both the state and federal governments for approving these projects, but has criticised the Greens party for its ongoing opposition to the developments.

“The Greens not only oppose the coal port development but also oppose the taking of coal out of the ground in the first place. Unfortunately, solar panels and wind farms don’t meet domestic or global energy needs,” Knott said.

“Similarly, the renewable energy sector doesn’t provide a substitute for the jobs, royalties, taxation revenues and other national benefits provided by Australia’s resource industry, widely recognised as one of the fundamental pillars of our economy.

“These four Queensland projects have been subjected to appropriately rigorous environmental approvals. The government imposed 95 environmental conditions for Abbot Point alone.

“The Greens should better appreciate that new environmentally responsible projects, combined with a productive and innovative workforce, will position Australia well in the competitive global marketplace.”