Qld govt and resources in $100M infrastructure partnership

ARRANGEMENTS for resources companies to make contributions to a voluntary Resources Community Infrastructure Fund have been settled under a memorandum of understanding between the Queensland government and the Queensland Resources Council.
Qld govt and resources in $100M infrastructure partnership Qld govt and resources in $100M infrastructure partnership Qld govt and resources in $100M infrastructure partnership Qld govt and resources in $100M infrastructure partnership Qld govt and resources in $100M infrastructure partnership

QRC CEO Ian Macfarlane.

The RCIF is planned to supplement existing planned state community infrastructure, as well as the investment by resource companies, and deliver additional benefit to Queensland resource communities, for the workers and their families who live there.

QRC CEO Ian Macfarlane said the $100 million RCIF would be in addition to the $74 billion in economic contributions to the Queensland economy the resources sector makes, including more than $5 billion in royalty payments to the Queensland government.

"On behalf of the resources industries and the communities we work in, I want to thank Treasurer Cameron Dick for acting so quickly to finalise an agreement to establish the fund, which will secure investments into regional communities," Macfarlane said,

"By finalising the agreement for RCIF, we - the government and QRC - can ensure the fund is part of Queensland's recovery.

"The agreement on the fund also delivers on the government's commitment in May last year to maintain the current rate and threshold for coal and metal royalties."

An expert advisory committee, comprising government, resource community and industry representatives, will review and make recommendations for allocating funding for community infrastructure projects in Queensland resource communities.

Queensland treasurer Cameron Dick said he was pleased that by partnering with Queensland's mining sector, the government was able to deliver for regional resource communities through this fund.

He said the government backed the resources industry, the jobs and communities that industry was built on.

"Queensland resource companies have long made significant investments in the communities in which they operate and have a track record of partnering closely with local communities in a range of social, training and employment initiatives," Dick said. 

He said as part of the 2019-20 Queensland budget, and to get the RCIF rolling, the government committed to contributing $30 million to the RCIF over three years.