Coal Industry Backing - Another Boost For The Bid
September 12th, 2011
Last week a consortium from the Central Queensland Coal Industry committed to the support of the CQ NRL Bid. The $440,000 commitment will be invested in preparing the Business Plan. We know that Central Queensland could present a compelling case to the NRL for inclusion but this additional resource will further enhance the NO RISK nature of the Business Plan.
This investment is genuinely appreciated because almost all of the Bid’s income and operational resources come from private sponsorship. The real benefit for the Bid is the engagement from an industry that is responsible for so much of what we have as Australians and in particular, Queenslanders.
The Coal Industry plays a vital role in Australia’s economy, energy security and community. It is Australia’s largest exporter (valued recently at $55 billion annually) and employs around 137,000 Australians.
Australia was the only one of the world’s 33 advanced economies to actually grow in 2009 during the worst global recession since the Great Depression, the Global Financial Crisis (GFC). A principal reason for this phenomenon was Australia’s continued Coal exports.
Every year the Coal Industry pays billions of dollars to Commonwealth and State governments in the form of corporate taxes, natural resource levies, freight charges and port services. In 08-09 coal royalties alone were worth $3.1 billion to the Queensland economy and $1.3 billion to the NSW government. These charges and taxes flow back to the general community in the form of state funding for hospitals, schools, roads, police, etc.
This same Coal Industry pays out billions of dollars for a variety of reasons – wages and salaries to its employees, to businesses for goods and services , to shareholders and investors as dividends and of course to the community as proof of its corporate citizenship.
The Coal Industry is more often than not the catalyst for other infrastructure and facility developments, especially here in Central Queensland. Last week was a “normal” week for the Coal industry with a $900 million rail and ship loading facility announced by QR National at Wiggins Island, near Gladstone, and a $5 billion port and water project which will provide water and port facilities for the Bowen and Galilee Basins. A major part of this project is a 50,000 megalitre dam on the Connors River and two massive pipelines from the dam to Moranbah and to Alpha as well as a huge expansion to the Abbot Pont Coal terminal.
The Coal Industry announcement last week concerning its investment in the CQ NRL Bid’s Business Plan contained a typical low-keyed, almost humble statement which was almost lost in the other details of the media release and so not picked up by most commentators. The Coal Industry media release stated “While the bid is being developed, BMA will work with other coal companies and suppliers in seeking to bring together the necessary sponsorship for the team”.
The Coal Industry is a great ally to have.