Latest national accounts figures released this week showed that Australia’s resources sector will be at the forefront of the country’s economic recovery post-COVID-19, having seen a 0.2% increase in output during the June quarter as well as a 1.1% rise on the same period last year.
The sector, which continues to directly employ over 200,000 Australians and supports the jobs of well over a million others, reported a 1.3% increase in mining investment on the previous quarter, and an 8% increase on the previous year.
Resources Minister Keith Pitt said the figures gave a good indication of the confidence in the Australian resources sector, despite the impact of COVID-19.
“While it is devastating to see the nationwide job losses caused by the impact of the coronavirus, we will get to the other side of this crisis and resources is well-placed to help lead our economic recovery,” Mr Pitt continued.
“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.”
“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.”