Procurement

Resources and mining hold steady in face of global pandemic challenges

Aiza Mabayag Sep 17, 2020

2 min read

Latest national accounts figures released have again revealed how important the resources sector is to the Australian economy through the global coronavirus pandemic.

Minister for Resources, Water and Northern Australia Keith Pitt said the industry is proving more than resilient.

“The mining industry bucked the national trend to see a 0.2 per cent increase in output during the June quarter, which is also a 1.1 per cent rise on the same period last year,” Minister Keith said.

“Encouragingly, mining investment also rose by 1.3 per cent on the previous quarter, and up by almost 8 per cent on the previous year, which is a good indication of the confidence in the Australian resources sector, despite the impact of COVID-19. It continues to directly employ over 200,000 Australians and supports the jobs of well over a million others.” he said.

While it is devastating to see the nationwide job losses caused by the impact of the coronavirus, Minister Keith said they will get to the other side of this crisis and resources as well-placed to help lead the economic recovery.

“It will be all about job creation as we emerge from the pandemic and mining will be in a good position to do just that, particularly for regional Australia.” he said.

“The extra measures the resources industry have taken to keep workers and communities safe and healthy is paying dividends for Australia now, and will pay even greater dividends when we reach the other side of the COVID-19 pandemic.” he said.

Latest national accounts figures released have again revealed how important the resources sector is to the Australian economy through the global coronavirus pandemic.

Minister for Resources, Water and Northern Australia Keith Pitt said the industry is proving more than resilient.

“The mining industry bucked the national trend to see a 0.2 per cent increase in output during the June quarter, which is also a 1.1 per cent rise on the same period last year. Encouragingly, mining investment also rose by 1.3 per cent on the previous quarter, and up by almost 8 per cent on the previous year, which is a good indication of the confidence in the Australian resources sector, despite the impact of COVID-19. ” Minister Keith said.

It continues to directly employ over 200,000 Australians and supports the jobs of well over a million others.

While it is devastating to see the nationwide job losses caused by the impact of the coronavirus, the Minister said they will get to the other side of this crisis to put well-placed resources and help lead the economic recovery.

“It will be all about job creation as we emerge from the pandemic and mining will be in a good position to do just that, particularly for regional Australia.” he said.

The extra measures the resources industry have taken to keep workers and communities safe and healthy is paying dividends for Australia now, and will pay even greater dividends when we reach the other side of the global COVID-19 pandemic.