Minister for Natural Resources and Mines
The Honourable Andrew Cripps
New data shows resources sector pivotal to economic recovery
Queensland’s mining and resource sectors continue to achieve record growth in jobs and investment in projects and exploration.
Natural Resources and Mines Minister Andrew Cripps said the latest Australian Bureau of Statistics data reinforced mining’s importance as one of the four key pillars of the Queensland economy.
“Mining continues to be the engine room for jobs growth in Queensland and a major contributor to the economic lifeblood of our communities, but we must not take its performance for granted,” he said.
“The latest ABS statistics show that in May 2012, employment in mining reached another record high of 72,400 direct full-time jobs.
“That’s 12,600 new jobs, or a 21 per cent increase, over the 59,800 people employed in mining in May 2011.
“Given that every direct job in the mining industry generates another three indirect jobs, mining now underwrites around 290,000 full-time jobs in Queensland.
“This equates to more th an 17 per cent of Queensland’s full-time workforce, or better than one job in every six.”
Mr Cripps said the mining and resource sectors also achieved record growth in private capital investment in mining projects and exploration.
“The ABS statistics show that private capital investment in the mining sector for the year to 31 March 2012 was a new record of almost $21.7 billion,” he said.
“That’s a massive 250 per cent increase on the $8.7 billion invested over the previous 12 months.”
Mr Cripps warned that sustained growth in the sector would only happen through streamlined approvals processes and less red-tape.
“The bulk of Queensland investment identified in the ABS data relates to Liquefied Natural Gas projects in Gladstone, but the LNP Government is determined that this confidence will flows right through the resource sector in coming years.”
“The State Government recognises the need to restore Queensland’s reputation as sa fe place to invest.
“Unnecessary red tape and useless regulation under the former State Labor Government has damaged the State’s reputation while Federal Labor is hell-bent on destroying jobs by introducing the carbon tax and the Minerals Resources Rent Tax.”