Minerals and energy sector contributes $37.5bn to Queensland, survey says

1 December 2014 (Last Updated December 1st, 2014 18:30)

A new survey has revealed that between 2013 and 2014 the minerals and energy sector contributed $37.5bn to the Queensland state of Australia.

Michael Roche

A new survey has revealed that between 2013 and 2014 the minerals and energy sector contributed $37.5bn to the Queensland state of Australia.

According to the report by the Queensland Resources Council, mining companies invested $5.6bn in wages and salaries to around 44,074 full-time resident employees.

Investment in wages has ensured an average salary level across the mining sector of approximately $127,760 a year.

The mining sector spent $29.2bn on purchasing goods and services from local businesses, which also includes community contributions and payments to local governments.

"What lies ahead for Queensland, if we are prepared to steer the course, is the promise of decades of prosperity driven by the modernisation of Asia."

As noted in the report, the Queensland state Government collected payments of $2.7bn, including royalties, stamp duty, payroll tax as well as land tax.

Coal was claimed to be the highest spender contributing 51% or $19bn, while oil and gas made up 36% or $13.3bn and metals brought in almost to 13`% or $4.8bn.

QRC CEO Michael Roche said: "Following the largest private sector investment phase in the nation's history, what lies ahead for Queensland, if we are prepared to steer the course, is the promise of decades of prosperity driven by the modernisation of Asia."

Brisbane recorded the highest direct expenditure of $17bn, Mackay's direct spend stood at $4.2bn and the Fitzroy region benefited from a contribution of $6.8bn.


Image: QRC CEO Michael Roche. Photo: courtesy of Queensland Resources Council (QRC).

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