New mine approvals quell “end of boom” talk

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Four new mining projects in Queensland have been given the green light by Environment Minister Greg Hunt, signalling that Australia’s resource boom is far from over.

New mine approvals quell “end of boom” talk
Four newly approved mining projects in Queensland are expected to inject billions of dollars into the Australian economy.

The projects given the go-ahead by Hunt includes a $20 billion Arrow Energy LNG facility for Curtis Island and related gas transmission pipeline, the Adani T0 coal project and the development of three significant coal export terminals at Abbott Point.  

Hunt says the approvals have been made subject to the highest environmental standards and conditions in a bid to protect marine life and the Great Barrier Reef.

"The conditions I have put in place for these projects will result in an improvement in water quality and strengthen the Australian Government’s approach to meeting the challenges confronting the Reef into the future," he says.

The Australian Mines and Metals Association (AMMA) has welcomed the approvals with open arms.

"Collectively, these significant resource industry projects would create more than 5000 new construction-based roles in Queensland and inject many billions of dollars into the economy," says AMMA chief executive Steve Knott.

"These wealth-creating developments are just four of more than 300 projects in Australia’s resource industry investment pipeline, representing about $500 billion of capital."

"Coupled with this week’s approvals, this future potential puts to bed any pre-election nonsense that Australia’s resources boom is coming to a rapid end."

The AMMA also criticised the Greens Party for its oppositions to the developments due to environmental reasons.

"Unfortunately solar panels and wind farms don’t meet domestic or global energy needs," Knott says.

"Similarly, the renewable energy sector doesn’t provide a substitute for the jobs, royalties, taxation revenues and other national benefits provided by Australia’s resource industry, widely recognised as one of the fundamental pillars of our economy."

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