A highlight of Mining in Brisbane with Bechtel Corporation.
Brisbane is located closer to more of Australia’s mining areas than any other capital city. Queensland is the world’s largest exporter of seaborne metallurgical coal accounting for 40 per cent of internationally traded metallurgical coal. Queensland also accounts for 5 per cent of the world's production of silver and more than 8 per cent of global production of lead, in addition to other metals and minerals (Source: Department of Natural Resources and Mines, Industry Update, August 2014). Overseas investors in Queensland are diversified across coal, copper, rare-earth metals, mineral sands, lead, zinc, bauxite and, increasingly, the emerging uranium mining industry.
As a global resources and energy hub and a centre of excellence for mining and energy technologies, Brisbane’s geographic proximity to the Asia Pacific region provides a competitive advantage for major energy and resources companies that have chosen Brisbane as the location for their global, Asia Pacific, or national headquarters. This geographic proximity to Asia enables Australia to export its minerals at potentially more cost-effective levels than developed world competitors such as Canada and the US. With the major emerging economies of Asia including India and China on its doorstep, the demand from sectors such as steel production have been supplied via a well-developed supply chain that is capable of supporting large-scale mining projects.
Brisbane has some great universities that provide some fantastic people that can work for a mining technology company such as ours.
Andrew Jessett, Chief Executive Officer, Mineware
Political stability and a favourable business environment are key factors that have contributed to the growth of the mining sector in Queensland. Its reputation has been reinforced by its naming in the world’s top 20 per cent of attractive mining jurisdictions for investment according to the Fraser Institute (Source: Fraser Institute Annual Survey of Mining Companies, 2013). Efforts to improve the regulatory framework for the resources and energy sector across all levels of government have improved the jurisdiction’s competitiveness to attract capital.
Recent examples of the improving regulatory framework include:
- The removal of carbon pricing (reducing the tax burden on energy and gas projects).
- Proposed removal of Mineral Resource Rent Tax.
- The introduction of an Exploration Development Incentive aimed at supporting junior exploration companies conduct “greenfield” exploration.
- A “one-stop shop” environmental approvals process to be established – approval to be delegated to the state governments.
- Red and green tape removal – reduce regulatory burden by $1 billion per year.
- The rescinding of a long ban on uranium mining in Queensland, potentially unlocking more than $10 billion worth of uranium deposits.
With an improving regulatory environment and growing opportunities for exploration in Queensland, Brisbane will experience growth from the emerging uranium industry, the 138 new exploration land releases in the heavy base-metal region of Mount Isa (central Queensland), new proven metallurgical coal and PCI coal deposits as well as the emerging Galilee Basin.
With many of these opportunities creating the future for Brisbane as a continued global resources and energy hub, companies have continued to build a presence in Brisbane including:
Brisbane's Competitive Advantages
Proximity to Australia’s largest resource and mineral reserves
Brisbane, as a world-leading commercial hub for energy and resources, benefits from its proximity to Australia’s largest coal and unconventional gas deposits. Two of the state’s major basins, the Bowen Basin and Surat Basin, account for 92 per cent of Australia’s coal seam gas reserves as well as the majority of the state’s 34 billion tonnes of world-class coking coal and thermal coal deposits (Source: Australian Government, Bureau of Resources and Energy Economics, Australian Gas Resource Assessment, 2012).
A hub of energy and resources innovation
Brisbane’s population is young, skilled, well-educated and culturally diverse. The city is home to three world-class universities, has a rich research environment, and a government focussed on supporting innovation. Brisbane is internationally recognised as a centre of excellence in the field of mining equipment, technology and services (METS) and has Australia’s highest concentration of METS companies compared to other major cities. A large number of world-renowned industry research and education facilities are well established in Brisbane including: the Queensland Minerals and Energy Academy; UQ Sustainable Minerals Institute; Queensland Centre for Advanced Technologies; and Cooperative Research Centres (CRCs) such as CRC Mining and the CRC for Optimising Resource Extraction.
Excellent economic fundamentals and opportunities for growth
With an economy valued at $135 billion, Brisbane is the economic hub and driver of the Queensland economy. Brisbane’s economy is forecast to grow by more than 60 per cent to $217 billion by 2031 and the resources and energy sector will continue to drive a significant share of this growth (Brisbane City Council, Economic Development Plan 2012-31).
Brisbane is the closest major Australian east coast capital city to Asia and home to one of Australia’s fastest-growing capital city ports, the Port of Brisbane. This means Brisbane is well placed to cater to the growing energy and resources demands of the Asia Pacific market.
Investment in energy and resources projects requires ongoing investment in strategic economic infrastructure to underpin the industry’s sustainable growth and development. Queensland’s continued ability to service the growth in global demand for its resources is supported by world-class rail infrastructure and Australia’s northern-most deep water port, the Port of Brisbane.
Industry representation and advocacy
Brisbane is home to the most organised and well-resourced mining industry bodies in Australia including the Association of Mining and Exploration Companies, Austmine, the Queensland Resources Council and the Mining and Energy Services Council of Australia all of which operate to secure a policy and economic environment conducive to the long-term sustainability of Queensland’s energy and resources industry.
For more information, please contact the Investment Attraction team.
Steven Silvester, General Manager, Investment Attraction
Ph: +61 (0)7 3006 6239