Matthew Canavan (Queensland, Liberal National Party, Minister for Resources and Northern Australia) Share this | Hansard source

It is a very timely question. I thank the senator for his question, because this week in Parliament House it is Minerals Week. It is a week to recognise how important our minerals and resources sector is. While we all understand how important that sector has become, particularly over the past decade, it is important to stress that it has perhaps never been as important as it is for our economy since at least the days of the gold rushes. That is because of the record investments we have had in this sector over the past 10 years.

It is true that those investments are receding and that they are not as large in our future plans as they were over the past 10 years. But, because of those investments over the past decade, the mining and resources sector has never been, really, as big as it now is as part of our economy. We are exporting record amounts of coal and record amounts of iron ore, and we are about to be the world's largest exporter of LNG.

Today, in fact, up there in Gladstone, near where I live, a sixth train is starting production of LNG. It is their third major project, the APLNG project there in Gladstone. It is part of a revolution in the gas sector, the LNG sector, across the world, and it is happening right here in Australia. In central Queensland and western Queensland, this industry has helped create 20,000 jobs, very important and crucial jobs in that region. It has meant a boost to the Queensland economy of more than $10 billion and a subsequent increase in tax revenues and other economic spin-offs for our economy.

We need this investment in our country. We need it to grow our regional economies. We need it to be able to make sure that we continue to provide the good public services that most Australians expect, and we can thank our strong resources sector for helping to pay for lots of that in our country. It is right and proper that we reflect on how important that is this week at Minerals Week.