Proudly resourcing Queensland: 2023-24 QRC Economic Contributions Report
Posted on December 2nd, 2024
The Queensland Resources Council is pleased to share the Queensland Resources Council’s (QRC) 15th annual Economic Contribution Report, a comprehensive study that measures the significant value of the resources sector to Queensland’s economy.
The findings from this year’s report reveal the true scale of the economic benefits generated by our mining, minerals, gas, and metals industries across the state.
Key highlights from the 2023-24 Economic Contribution report:
- Record contribution: The resources sector delivered a record $120.2 billion to Queensland’s economy in 2023-24, representing approximately 24% of the state’s total economic output. This marks an increase of $3.4 billion from the previous year and is the fifth consecutive year the sector has set a new record since reporting began in 2010.
- Job creation: The sector directly generated 62,730 jobs, a 2% increase from the previous year. Overall, the sector supported 554,728 direct and indirect jobs, a 4% increase, which means one in every six jobs in Queensland is linked to the resources industry.
- Regional impact: Brisbane is once again Queensland’s largest mining town, with the resources sector contributing $49.8 billion (or one in every four dollars) to the Greater Brisbane area.
- Community support: More than 17,000 businesses across Queensland shared in total resources spend of $35.8 billion on local goods and services, a 7% increase, and support for more than 1,650 community groups spanning health, education, environment, and the arts.
- Royalties and returns for Queenslanders: The sector contributed a record $12.8 billion in royalties, which are reinvested into critical infrastructure and services such as roads, education, health, and law and order in all regions of the state.
- Contributions by commodity: In terms of sectoral contribution, coal accounted for 71% of the total contribution, followed by oil and gas at 14%, and metals at 11%. The remaining 4% comes from other commodities and electricity generation.
All of this has been achieved from just 0.1 percent of Queensland’s land area underpinned by strict project assessment, approval, and rehabilitation requirements that ensure sustainable, responsible resource development.
This landmark report, initiated by the QRC in 2010 and compiled by independent consultants based on members’ financial records and advanced economic modeling, identifies flow-on effects through the economy at a state, division, and local government authority level.
This year’s result brings the total economic contribution of our sector to $1.2 trillion over the 15 years of the QRC’s Economic Contribution Report, highlighting its significance to all Queenslanders.
To view our industry’s statewide economic contribution to Queensland, click here.
To view our industry’s economic contribution to the Fitzroy region (Banana, Central Highlands, Gladstone, and Rockhampton LGAs), click here.
The full report is also accessible on the Our Industry page on the QRC website along with Contribution factsheets by location and commodities.
Queensland Resources Council encourages all our regional partners to continue championing initiatives that strengthen the resources sector’s vital role in driving Queensland’s economic progress. The QRC is proud to collaborate with regional communities whose contributions are integral to the many benefits our industry brings to the state.
