Oct 28, 2020

LNP rolls out its plan to support resources sector

LNP rolls out its plan to support resources sector

Opening up the Galilee Basin and maintaining current royalty rates for coal, metals and gas for 10 years are planks in a State LNP resources plan.

LNP Leader Deb Frecklington said the LNP would provide secure jobs and royalty security as part of a plan to get Queensland working again.

“Queenslanders have a clear choice between an anti-resources Labor government that stalls mining projects and shuts projects down like New Acland Stage 3, or the LNP which will fast track approvals and open up the Galilee Basin,” Ms Frecklington said.

“Queensland has the worst unemployment rate in the nation with more than 209,000 people out of work, so it is essential that we lock in our existing jobs and have a vision to grow our resources sector – something our 10-year royalties guarantee provides.”

The LNP plan announced to support the gas and resources industry includes:

  • Open up the Galilee Basin to develop $50 billion worth of projects that will support 15,000 jobs
  • A new Queensland Infrastructure Fund to collect and invest royalties from the Galilee Basin in new infrastructure across the state
  • A 10-year royalties guarantee to provide investment certainty for the resources industry
  • A commitment of $8 million for minerals exploration
  • Cutting electricity costs faced by the mineral sector
  • A dedicated Deputy Coordinator-General to manage the coordinated development of the North-West Minerals Province, based in Townsville
  • An energy audit to look into bringing down bills for industry and encouraging more investment to create jobs
  • A commitment to fully implement the CopperString 2.0 in partnership with the Federal Government
  • A new Queensland Resources Industry Commissioner to promote the state to international investors
  • A faster approvals process, with key performance indicators tracked and published to restore industry confidence in the Queensland Government.

The Queensland Resources Council welcomed the commitments by the LNP.

Chief executive Ian Macfarlane said the Katter Australia Party and its leader Robbie Katter had also been a strong advocate for the resources sector and endorsed key elements of the QRC’s election agenda including the 10-year royalty freeze, streamlined approval and assessment processes and an industry development plan.