IN A HUGE BOOST to regional employment, Glencore has increased its apprenticeship intake by 74 in Queensland and 112 across its Australian mining operations, according to the Queensland Resources Council (QRC).

QRC chief executive Ian Macfarlane said this cohort of young women and men were embarking on a long and rewarding career in the resources sector.

“I congratulate Glencore for this significant increase in apprenticeship numbers which will bring life changing opportunities to these young apprentices,” Mr Macfarlane said.

“For example, Casten Lemson, who grew up in Charters Towers and moved to Mount Isa to complete Mount Isa Mines’ Indigenous Employment Program is now an apprentice diesel fitter with the company.

"Over 12 months the resources sector has created a job every 40 minutes which is helping drive down the state’s stubbornly high unemployment rate which is above 6 percent.

“When resources are doing well Queensland is doing well and this announcement is further proof of the sector creating more jobs," Mr Macfarlane said.

“These apprentices will also contribute to the billions of dollars paid in royalty taxes by the resources sector to the State Government to help pay for new schools, hospitals and roads. This year the State Budget is expected to receive $5.2 billion in royalty taxes from the resources sector."

In total, Glencore has 362 young men and women as apprentices based in regional communities throughout Australia.

www.qrc.org.au

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THE Joint Standing Committee on Trade and Investment Growth today released its report on Austrade’s role in attracting investment into Australia.

“Foreign direct investment is crucial to the prosperity and competitiveness of the Australian economy," committee chair Ken O’Dowd said.

“The economies that Australia is drawing investment from are shifting from the traditional North American, European and Japanese markets to high-growth and emerging markets in Asia and the Middle East.” Mr O’Dowd said.

“Austrade plays a vital role in promoting to these markets and helping to facilitate direct investment into Australian industries.”

The committee analysed Austrade’s activities and its current business improvement agenda, while hearing from interested industry and government stakeholders, and identified four recommendations  to help Austrade improve  collaboration, project identification, and data and business improvement priorities.

“Austrade is held in high regard by the industries it promotes, the governments it collaborates with, and the investors it assists," Mr O'Dowd said.

"However, the committee believes that the recommendations in this report will aid Austrade in increasing collaboration with state, territory and local governments, with an emphasis on regional development, as well as help Austrade manage and measure its business improvement agenda.” Mr O’Dowd said.

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.