The Resources sector is fuelling economic growth with a key Government report highlighting that the sector has increased to nearly 250,000 jobs with the sector’s export earnings forecast to reach $281Billion dollars.
A year ago on 14 February, the Federal Government released its National Resources Statement 2019, setting out a long-term vision for the nation’s resources sector. To mark the first anniversary, Resources, Water and Northern Australia Minister Keith Pitt has released an update highlighting significant developments over the past 12 months.
“Since the release of the Resources Statement, Australia’s resources sector has continued to expand and employment in our resources industries has increased to nearly 250,000 jobs,” Minister Pitt said.
“At the same time, our resources sector continues to set new records with resource and energy export earnings forecast to reach $281 billion this year.
- New technologies will see major disruption to frontline mining jobs
- Industry Growth Centre awards $4.1m in project funding
- Fatal mine accidents in Queensland deserve a worthy response
“Our vision is for Australia to have the world’s most advanced, innovative and successful resources sector, which delivers sustained prosperity and development for the benefit of all Australians.”
- Key government actions over the past year include:Investing $30 million into the future workforce through the new School of Mines and Manufacturing at the Central Queensland University campuses in Gladstone and Rockhampton;
- Supporting the growth of our critical minerals sector with the establishment of the Critical Minerals Facilitation Office;Releasing the National Hydrogen Strategy which sets the blueprint for the development of Australia’s hydrogen sector;
- Increasing the potential for new gas projects through the development of the Beetaloo Basin, which will create new jobs and economic opportunities for northern Australia;
- Streamlining the annual offshore acreage release process – the 2019 acreage release is the largest in 20 years; and
- Ensuring all government regulation is efficient, and meets the needs of industry, investors and communities by commissioning the Productivity Commission to report into best-practice resources regulation.
Minister Pitt said the resources sector accounted for around 8.5 per cent of Australia’s GDP, and 35 per cent of Australia’s economic growth, generating more than $36 billion in taxes and royalties.
“Implementing the Resources Statement remains a priority for the Government,” Minister Pitt said.
“The Government will continue to focus on creating jobs and driving growth by ensuring Australia remains the destination of choice for resources investment and development.”
The 2020 Update on Australia’s National Resources Statement is available on the Department of Industry, Science, Energy and Resources website.
Read more Mining News