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Queensland Plan to triple the value of resource production

Queensland Plan to triple the value of resource production

Queensland's resources sector may triple in value by 2040.

Queensland’s resources sector is expected to triple in value and reach $100 billion by 2040, according to the Queensland Plan, a 30-year vision for Queensland.

The plan was released by Queensland’s Resources Council on Tuesday (October 8), the eve of the Queensland Plan Brisbane Summit.

The plan identified the goal of trebling the value of resource production in regional Queensland while minimising the sector’s environmental impact and providing employment and training opportunities.

The Queensland Plan expects the state will play a significant part in feeding, clothing and powering a resource-hungry world.

Research from the Global Change Institute at the University of Queensland forecasts production of food will need to have increased by 70 per cent by 2050, to feed a projected 9 billion people.

Also, the global energy demand could increase by as much as 80 per cent by 2050 according to Shell Energy Scenarios.

Global demand for Queensland’s resources will continue to grow as the world demands more food, more energy, more steel and more raw materials for growth.

The Queensland Plan states that providing 70 per cent more food or 80 per cent more energy can’t happen under current industry scenarios.

Instead, a focus must be put on the present opportunities that are available for the industry to adapt and change while maintaining a balance between economic development and environmental rehabilitation and protection.

Under this plan, the industry will respond quickly to future opportunities, enabled by government policy that is streamlined and consistent.

“In a nutshell, QRC’s 30-year vision for Queensland shows how we can help meet the world’s growing demand for minerals and energy, while being responsible stewards of land and water and minimising our energy inputs,’ said QRC Chief Executive Michael Roche.

“We’ll show the world how to balance sustained production growth with protection of our magnificent natural environment,” he said.

The predicted growth of the industry is good news for those seeking apprenticeships in Gladstone and other areas in the state, as a larger industry means more opportunities for employment and traineeships in Queensland.

The resources sector in Queensland is already responsible for one in every four dollars injected into the state’s economy and one in five jobs in the area.

“And, we’ll show how providing better jobs – high-tech, high-skilled and well-paid jobs, particularly in regional Queensland – is at the heart of the Queensland model of economic growth,” Mr Roche said.

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