Qld’s resource sector plans to spend more in 2018

A survey by the Queensland Resources Council (QRC) involving 27 chief executives from resources companies has found that half plan to spend more in Queensland with their local supplier in 2018 and none plan to spend less.

QRC Chief Executive Ian Macfarlane said resources companies spent $6.2 billion – the equivalent of $120 million every week – with almost 9000 businesses across regional Queensland last year.

“The resources sector directly employs more than 38,000 Queenslanders, with almost 80 per cent of those men and women working in regional Queensland,” Macfarlane said.

“We support and rely upon thousands more staff in the regions where we work to supply equipment, fuel, food, clothing and a full range of services,” he added.

According to the QRC’s statement, the Queensland resources sector now provides one in every $6 dollars in the Queensland economy, sustains one in eight Queensland jobs, and supports more than 16,400 businesses across the State – with almost 7000 businesses in the Greater Brisbane region – all from 0.1 percent of Queensland’s land mass

 

“The latest survey of resources company CEOs shows half plan to spend more and almost 20 percent say they plan to spend ‘substantially’ more with their local suppliers,” Macfarlane said.

“It’s in the interests of resources companies and the sector to work with local suppliers to develop skills and support these businesses and the communities that depend upon these businesses,” he added.

Macfarlane said the QRC survey results were consistent with the Productivity Commission’s Transitioning Regions report last year, which stated: “Mining regions continue to have high incomes and have substantially more people employed than prior to the boom. Many regions with a high concentration of activity based on mining have transitioned well from construction to production following large expansions in capacity during the mining investment boom”.