Minister stands up for coal industry

Mines and Energy Minister Geoff Wilson told State Parliament today that contrary to recent interstate attacks, the State Government was standing up for Queensland’s booming coal industry.

Minister Wilson said the resources boom was a magnet for jobs and job security.

“To back this booming industry, we’re investing $300 million through the Queensland Future Growth Fund on clean coal technology projects.

“By investing in our billion dollar coal industry, we’re investing in the workers at the coal face. We’re investing in their future,” Mr Wilson said.

“Sales revenue in the coal industry has reached an all-time record high. In 2005-06, sales revenue reached an all-time record of more than $17 billion, over $6 billion more than the previous year.

“Revenues were boosted by higher prices,” he said.

The Minister said the average price of coal this year had increased by more than $44 a tonne, to over $125 a tonne.

“Total coal sales including the domestic market reached almost 170 million tonnes.

Metallurgical coals, used in the world’s iron and steel industry, again dominated exports.

“Japan continued as our largest customer, taking more than 54 million tonnes for the year. Other significant customers included Korea, India, Europe, China, South America and Taiwan,” he said.

In 2005-06, the state received more than $1.1 billion in royalties from the coal industry, that’s around 80% of the $1.45 billion in total royalties received.

“These royalties help build our schools and hospitals, put police on the beat and teachers in our classrooms.

“As well as the royalties, the state receives rail freight charges and rentals on mining tenures,” Mr Wilson said.

“Jobs in the Queensland coal industry have also grown. More than 18,600 people were employed in the industry at the end of June last year, around 2,800 more than last year,” he said.

The Minister said coal exports were expected to grow even more this year, with seven new projects kicking off production.

“Last month, Rio Tinto and its joint venture partners committed to the immediate development of the $950 million Clermont coal mine.

“All this export and development activity has had a tremendous impact on our economy.

“And that’s why we all need to stand up and support this vital industry,” he said.

Media Inquiries: Ellen McIntyre 3225 1819