Return of Resources to Cabinet confirms industry’s national importance

The return of Resources portfolio to Federal Cabinet is a welcome and a timely confirmation of the resource industry’s importance to Australia’s economy.

Australia’s mining industry is a major contributor to investment, exports and government revenues. It directly employs 256,000 Australians.

A strong minerals sector is not only important for Australia’s post-COVID recovery, it will help to sustain and improve the lives of millions around the world, providing the critical raw materials necessary for modern and emerging economies to flourish in a decarbonised future.

As Minister for Resources and Water, Minister Pitt is a strong advocate for the resources industry and the benefits it delivers regional communities.

Representing regional Queensland as the Member for Hinkler, he’s lived and breathed our industry and is proud of it. He brings passion and experience to this role.

The industry will work with all politicians and the communities recognising the substantial contribution mining makes across many areas of the economy and society including as the largest sector contributor to the nation’s GDP.

Australia is the leading mining jurisdiction in the world. Australians are rightly proud of a mining sector which makes a huge contribution to the nation.

This is not just due to our outstanding natural resources, but built on the hard work of our people, solid partnerships with communities, investment in infrastructure and skills and government policies that promote a profitable and sustainable sector to encourage investment.

Trade data released by the Australian Bureau of Statistics recently has highlighted the important role of the mining industry in the Australian economy as we manage the impacts of the COVID-19 pandemic.

In August 2021, Australia exported $33.9 billion of mineral, metal and energy commodities which accounted for 69 per cent of our export revenue and were the foundation of a new record high trade surplus.

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