Monitoring the mining industry

Mines and Energy Minister Geoff Wilson has asked his Department to closely monitor the mining industry in Queensland in light of the current global economic crisis.

“Mining is a very important industry to Queensland. It’s a key economic driver of the state’s strong economy and that’s why I’ve asked my Department to keep a close watch on events as they unfold here in Queensland,” Mr Wilson said.

“These are challenging times for everyone. Queensland and its mining industry are not alone. The effects of the global economic downturn are being felt across the board.

“We will continue to work in partnership with the major mining companies and unions and we will face these challenges together. Mining is one of the most important industries for Queensland’s long term future.

“While Queensland is not immune to the global economic slowdown, exploration and mining has a long-term horizon,” he said.

The State Government granted 552 mining leases over the past five years and 39 applications were turned down.

“Most of those were turned down because they didn’t meet environmental, financial or technical conditions.

“The state’s mineral wealth is owned by all Queenslanders. We have to be good stewards of those resources and act in the best interests of Queenslanders,” Mr Wilson said.

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