Large dump truck and small light vehicle.
Large dump truck and small light vehicle.

What resource industry leaders are most concerned with

THE  Queensland Resources Council has called on the ­Government to provide a ­"stable and transparent investment" framework amid a scathing survey that revealed uncertain and poor regulation of the sector were industry leaders' biggest fear.

In the latest QRC State of the Sector report, executives said uncertain and/or poor state regulation was the No.1 problem facing the industry in the state.

One executive quoted in the report said while there was strong markets for coal, investment was unlikely as ­"constantly changing regulations creates an unpalatable environment".

Another said the uncertain regulation and lack of "real" consultation with industry was "challenging".

Executives also overwhelmingly supported locking in ­royalty rates for the lifetime of a project and most said the ­stability would make resource projects more attractive to ­investors.

They backed the 10-year royalty freeze proposed by the LNP, if elected.

LNP Leader Deb Frecklington seized on the survey ­results.

Queensland Opposition Leader Deb Frecklington. (AAP Image/Jono Searle) NO ARCHIVING
Queensland Opposition Leader Deb Frecklington. (AAP Image/Jono Searle) NO ARCHIVING

"The mining industry thinks Labor is anti-regions, anti-resources and anti-jobs," she said. "Regulations have been used to unfairly tie up mining ­projects and destroy new jobs. I'm pleased that ­industry leaders overwhelmingly back the LNP's plan to freeze royalties."

The March quarterly report also found the number of job advertisements for mining-related occupations had ­increased by 94 per cent in the three years to April 2019.

That's compared to the number of job advertisements across all industries increasing by just 6 per cent.

According to the Queensland Major Projects Pipeline Report, about $2 billion of ­resource projects are currently under construction, with a ­further $19 billion in the pipeline to 2022-23.

QRC chief executive Ian Macfarlane said the development of Queensland's resources sector pipeline provided opportunities to create jobs, ­especially for regional Queenslanders.

He said according to the QRC's latest CEO Sentiment Survey more than half of member CEOs expected to ­increase the total workforce at their Queensland operations over the next year.

Not a single CEO said they planned to reduce their workforce in the coming 12 months.

"We can't take these job ­opportunities for granted," Mr Macfarlane said.