Emissions focus for mining companies

QUEENSLAND mining bosses are planning a massive ramp up of low-emissions technology with nearly 90 per cent seeing it as an opportunity, according to a new survey.

The Queensland Resources Council’s latest survey of mining bosses also found production volumes and values had dropped slightly in the most recent quarter.

Chief executives surveyed in the quarterly State of the Sector report were also more pessimistic about the regulatory environment as negative sentiment jumped a further 17 per cent from last quarter’s record level.

QRC chief executive Ian Macfarlane said the survey showed resources companies were already investing in a lower carbon world.

“Across commodities 40 per cent of surveyed CEOS are currently investing in the research and development of low emission technologies from carbon capture and storage to energy efficiency projects,” Mr Macfarlane said.

“This expenditure will grow further over the next 12 months with 53 per cent planning to spend more on reducing emissions and 20 per cent substantially increasing spending.”

He said 90 per cent of mining bosses viewed renewable energy sources as an opportunity but were equally concerned that intermittent generation would risk energy security and affordability without careful planning.

“Queensland’s economy was built on reliable access to low-cost energy and it remains a vital ingredient for the success of the resources sector,” he said.

The report found total production in Queensland mines dropped slightly in the March quarter to 129 points, which was 12 points below the highest of 141 points in the December 2017 quarter.

The value of all production in Queensland mines also dropped about 8 per cent.