QUEENSLAND Resources Council chief executive, Ian Macfarlane, has applauded Peabody Australia’s environmental credentials after the company received certification from the Queensland Government for the rehabilitation of close to 90 hectares (86.67ha) of land at its former Wilkie Creek mine northwest of Dalby.

“It’s another clear and practical example of Peabody’s commitment to the environment and the sustainability of mining in regional Queensland,” Mr Macfarlane said.

“I congratulate Peabody and their rehabilitation team on this significant recognition from the government.

“Queensland’s resources industry adheres to world-class environmental standards with a strong focus on the rehabilitation of land post mining. This commitment is delivered through the resources industry’s close and productive partnerships with other land users and local communities.”

www.qrc.org.au

About the QRC

QRC is the peak representative body for Queensland‘s resource sector. The Queensland resources sector provides one in every five dollars in the Queensland economy, sustains one in eight Queensland jobs, and supports more than 15,400 businesses and community organisations across the State, all from 0.1 percent of Queensland’s land mass.

TWO superannuation bills which passed the Senate overnight, with extensive amendments, will help curtail super balances being eroded by unnecessary fees and signal the beginning of the end for underperforming, fee gouging super funds according to Industry Super Australia.

Industry Super Australia deputy chief executive, Matt Linden said after a tortuous eventual vote, one of the most important changes was the automatic consolidation of inactive accounts under $6000 from July 1 this year.

“Although the technology to automatically consolidate accounts has been available for many years without requiring members to do the legwork legislators have dragged the chain," Mr Linden said. “Coupled with fee caps for accounts under $6000 these measures will have to do the heavy lifting to prevent erosion of small account balances.

“It was disappointing explicit changes intended to protect young and low balance members from unnecessary insurance were completely dropped from the final bill."

While additional safeguards were definitely required removing the provisions completely was not necessary, he said.

“Regardless, Industry super funds will strive to ensure default insurance arrangements remain cost effective and matched to the insurance needs of members taking into account age and other factors such as occupational risk," Mr Linden said.

The other Bill passed by the Senate, Member Outcomes 1, benefited significantly from Labor and Green amendments supported by most of the cross bench which will place greater scrutiny on costly and poorly performing, non-default ‘Choice’ superannuation products, Mr Linden claimed.

As a result of the amendments the fees, costs, and returns of choice superannuation products will be scrutinised, and new reporting standards should now shine a light on billions in undisclosed investment fees and profits gouged from the system.

“Trustees who fail to operate in the best interest of fund members will now have little place to hide,” Mr Linden said.

MINING companies Anglo American and QCoal have increased donations from resource companies to flood recovery efforts to more than $3 million.

Anglo American has donated $200,000 to GIVIT, while the QCoal Foundation has committed $100,000 to support local initiatives in Townsville and across North Queensland.

Queensland Resources Council (QRC) chief executive Ian Macfarlane said resource companies were responding with financial support, in-kind donations and labour to help Queenslanders get back on their feet from floods.

“I would like to thank Anglo American and the QCoal Foundation for adding their support to the flood recovery efforts. Every dollar helps with a strong recovery for North Queensland,” Mr Macfarlane said.

“The Government announced yesterday that more than $4.4 million has been donated. I am proud the resources sector has contributed more than $3 million – or almost three quarters – of those donations.”

Including the donations from Anglo American and the QCoal Foundation, QRC members have donated $3.25 million to flood relief charities with Glencore and South32 donating $1,000,000 each, the BHP Foundation, MMG Dugald River and Aurizon contributing $250,000 each, and Adani Australia and Incitec Pivot contributing $100,000 each.

Mr Macfarlane said Glencore and South32 were assisting efforts to support the cattle industry devastated by floods in the state’s north west.

Glencore has supported hay drops by providing access to its Ernest Henry site for the RAAF to conduct their operations. It has also provided heavy equipment (loaders and forklifts) and people power to assist in the hay drops for stranded cattle and for the removal of dead cattle.

South32 Cannington has also provided heavy equipment for near neighbours in the disposal of dead cattle and has been on standby to help with refuelling at its airport if needed as part of the hay drops.

South 32 has been working with the Mayors of McKinlay and Cloncurry Shire Councils on how it can provide support to the region to deal with the flood crisis and recovery efforts.

Premier Annastacia Palaszczuk started the appeal with a $200,000 donation and her Government listed The Australian Red Cross, UnitingCare, Salvation Army and St Vincent de Paul Society Queensland as the non-government partners and said people can also donate to GIVIT.

www.qrc.org.au

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THE Queensland Resources Council (QRC) has welcomed the decision by the State Government to award a petroleum facility licence which will lead to a new gas processing plant in the Surat Basin.

QRC chief executive Ian Macfarlane said the plant would be built by Jemena and process gas from Senex Energy’s Project Atlas west of Wandoan.

“This project is part of the Government’s domestic only gas supply initiative designed to help ease the east coast gas squeeze,” Mr Macfarlane said.

“The processing plant will be part of Jemena’s $140 million Atlas gas pipeline which will connect gas from Project Atlas to the Wallumbilla Gas Hub in south west Queensland and create 150 jobs.

“It’s another flagship example of industry and Government working together to produce more natural gas, with benefits for Queensland," he said.

“Queensland’s resources industry has a proven track record of attracting new investment and creating new jobs because of the clear and stable regulatory environment in which it operates. It is essential that we have stable and reliable regulation for our resources sector to continue to attract the investment that builds our State and delivers for every Queenslander.”

www.qrc.org.au

About QRC

QRC is the peak representative body for Queensland ‘s resource sector. The Queensland resources sector provides one in every five dollars in the Queensland economy, sustains one in eight Queensland jobs, and supports more than 15,400 businesses and community organisations across the State, all from 0.1 percent of Queensland’s land mass.

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