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Fund lights the way to new energy economy

THE Queensland Resources Council (QRC) has welcomed the Federal Government’s decision to encourage new investment in Queensland’s critical minerals sector through a $2 billion loan facility.

QRC chief executive Ian Macfarlane said the loan facility would help secure the vital resources needed to drive the new energy economy and support ‘green’ resources jobs of the future.

"The announcement of a new, $2 billion loan facility for critical minerals projects will help convert exploration interest into long-term job opportunities and support Australia’s transition to a lower emissions future,” Mr Macfarlane said.

A recent International Energy Agency (IEA) report -- referred to in the QRC’s State of the Sector report for the March quarter -- showed that a concerted effort to reach the goals of the Paris Agreement would lead to a quadrupling of mineral demand for clean energy technologies by 2040.

“The IEA report demonstrates Queensland explorers and potential explorers are in a prime position to capitalise on growing global interest in our minerals sector,” Mr Macfarlane said.

“Queensland mineral exploration expenditure has already grown by 32 percent over the past two financial years, according to the latest ABS exploration data, and we expect today’s announcement will help Queensland capitalise on the increased activity.”

Queensland Exploration Council (QEC) chair Kim Wainwright said Queensland had a range of critical mineral exploration projects underway that would support the world’s transition to lower emission energy.

“Queensland is highly prospective for many of the minerals used to manufacture everyday items such as smart phones, and renewable energy products like wind turbines, electric cars, solar panels and batteries,” Ms Wainwright said.

“For example, we have some critical minerals projects underway involving commodities such as vanadium, tungsten and rare earths as well as the more traditional minerals required like copper, gold and zinc, but the sector will need to expand further to realise its full potential.”

Ms Wainwright said the Queensland Government’s approval of Multicom Resources’ Saint Elmo vanadium mine near Julia Creek last week was a sign of more to come, with vanadium an in-demand component used to strengthen steel alloys and vanadium batteries, which complement lithium battery options.

“Queensland is in prime position to provide the rare earths and other critical minerals that are essential to the supply chains of the new economy minerals,” she said.

www.qrc.org.au

 

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Australia’s second parcel boom: CouriersPlease forecasts 30pc growth in volumes in 2021 December quarter

LAST YEAR’s eCommerce boom, after Australia went into lockdown, has continued well into 2021 while restrictions across the states continues. This year, with Victoria and NSW likely to continue lockdowns into the third quarter of the year, parcel delivery service CouriersPlease (CP) is forecasting a second parcel boom before Christmas.

Between March and May 2020, CP experienced an 80 percent spike in parcel volumes on the previous year. After lockdowns ended and restrictions began to ease, parcel volumes stabilised to a level that was still 53 percent higher than in 2019.

October to December is peak period for the logistics industry, given the popularity of major shopping events such as Black Friday and Cyber Monday, as well as Christmas shopping.

At CP, parcel volumes grew to more than 4.6 million in 2019, an increase of just 1 percent (52,000 parcels) on the 2019 September quarter. During last year’s December quarter, however, CP handled more than 8 million parcels. While this was a 4 percent increase in volumes (340,000 parcels) on the 2020 September quarter, it amounted to a significant 71 percent growth on the 2019 December quarter.

This year, from June 25 when Sydney went into lockdown, CP was well on its way to surpassing 2020 December quarter volumes while lockdowns continue, delivering more than 5.6 million parcels in just eight weeks. As a result, the company expects a further 30 percent growth in the December quarter compared with the same period last year.

This is about 2.4 million more parcels than the company delivered last December quarter, and 122 percent (5.7 million parcels) more than the 2019 December quarter.

CouriersPlease chief operations officer, Phil Reid said, “We’ve has continued to experience a surge in parcel volumes and the current lockdowns have seen volumes soar to the levels we see during peak periods.

“Since last year’s boom, we expanded the business rapidly, doubling our franchisee network and hiring hundreds more delivery drivers. However, volumes continue to soar to record levels, and a second parcel boom this November and December is inevitable.

"We are preparing for a more than 30 percent increase in volumes during this period and have already started recruiting more warehouse staff and delivery drivers where possible.

“It is important for shoppers to understand that couriers across the country are delivering more parcels than ever before, particularly as lockdowns continue in Australia’s two largest cities. While it is a challenge for the industry to keep up and deliver within timeframes, we do know how frustrating it can be for those waiting to receive essential and urgent items.

"There are several recommendations retailers can share with their customers to minimise delivery delays. However, preparing for potential delays remains important and shoppers should pay particular attention to notifications from couriers, who are updating delivery timeframes and communicating delays to the best of their ability.”

 

About CouriersPlease

CouriersPlease (CP) is a leading courier and freight service that delivers tens of millions of parcels each year. CP offers a network of pick up and drop off locations comprising more than 3500 lockers in 45 locations and more than 1000 retail outlets to enable consumers and businesses to pick up or post their parcels more securely and out of hours. Owned by Singapore Post (SingPost), a leader in eCommerce logistics in the Asia Pacific and USA, CP’s international and domestic air services connect customers to countries all around the world. couriersplease.com.au

 

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QRC applauds new millennium coal

THE Queensland Resources Council (QRC) has welcomed the announcement of first coal on the re-opening of the Millennium metallurgical coal mine at Coppabella in central Queensland.

QRC chief executive Ian Macfarlane said Queensland had much to gain from the ongoing strength of the met coal market.

“Metallurgical coal, which is essential for steelmaking, has surged to new high prices in recent weeks, driven by global demand,” Mr Macfarlane said.

“As Australia’s largest met coal supplier, Queensland’s commodities are creating jobs, creating investment in regional communities and delivering for all Queenslanders.”

The mine near Moranbah is a joint venture between Stanmore Resources and M Resources and was officially restarted in July, creating 330 jobs. It’s expected exports from the mine will begin by the end of the year.

“Queensland has what the world needs,” Mr Macfarlane said.

“Our high-quality resources exports have helped keep Queensland’s economy strong during the Covid-19 pandemic, and they will be increasingly important as investment continues in the recovery phase around the world.

“The most recent forecasts from the Canberra-based Office of the Chief Economist have predicted Australia’s resources exports will hit a record $349 billion this financial year, driven by strong demand for Australia’s powerhouse commodities including coal and LNG. Those forecasts tip the value of met coal exports to hit $33 billion this financial year, up from $23 billion last year.

“Queensland resources sector is strong and diverse. Our traditional commodities including coal and gas have a strong future alongside new investments in Queensland’s renewables projects, hydrogen and critical minerals.

“We look forward to seeing the draft of the Queensland Resources Industry Development Plan later this year, to provide a roadmap to keep the sector strong over the years and decades ahead.”

www.qrc.org.au

 

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Government applauded for engineering futures

A NEW PROGRAM to encourage people into engineering careers has been welcomed by the Queensland Resources Council (QRC).

QRC chief executive Ian Macfarlane said the employment-based, pre-apprenticeship pathway is a great initiative by the Queensland Government at a time when our sector is experiencing skills shortages.

“Skills shortages are the number one concern of our member CEOs, according to a recent QRC report and engineering is one of those critical shortage areas,” Mr Macfarlane said.

“The Pre-Apprenticeship Support program is also designed to increase the completion rate of apprenticeships. I applaud the Premier on the initiative, which includes a new Certificate I in Engineering to help people transition into an apprenticeship."

The two-year $25 million Pre-Apprenticeship Support program aims to support people looking to start a trade career or want to advance in their current trade, according to Mr Macfarlane.

“With the halt on skilled migration because of Covid-19 restrictions, we are also experiencing a shortage of trades people, so we really welcome programs that encourage people to take up trade careers," he said

Mr Macfarlane said the program complemented the efforts of QRC’s education arm, the Queensland Minerals and Energy Academy (QMEA), which is on a mission to encourage young people into professional and trade careers, with a particular emphasis on Indigenous and female participation.

“Our sector has kept the Queensland economy afloat during Covid and will also lead us through the post-Covid recovery, so attracting and retaining a skilled workforce is vital,"Mr Macfarlane said.

“Despite the uncertainty and upheaval in 2020, the resources sector remained the largest source of Queensland’s merchandise exports.

“Over the 12 months to July 2021, resources exports made up $46 billion of the state’s total merchandise exports of $60 billion.”

www.qrc.org.au

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Road Safety Committee examines road safety for higher-risk road users and in regional areas

THE Joint Select Committee on Road Safety will hold further public hearings for its inquiry into Road Safety on October 12 and 14, 2021.

The hearing on October 12 will be an opportunity for the committee to hear from representative bodies and research institutions about road safety issues for specific cohorts of road users such as pedestrians, cyclists, motorcyclists, and members of the caravan industry, as well as about targeted measures that can be taken to reduce road trauma.

Committee Chair, Darren Chester MP said, "Pedestrians, cyclists and motorcyclists are at higher risk of death and serious injury when involved in a road traffic incident, and are overrepresented in road trauma statistics. Regrettably, these road users are often overlooked in road safety strategies in favour of improving safety for passenger vehicles.

"Further, road safety initiatives often group cyclists, motorcyclists, and pedestrians together under the heading of 'vulnerable road users', notwithstanding that these groups of road users have very different wants and needs. Accordingly, the committee will hear about the particular concerns of road users other than passenger vehicles, and about targeted solutions to improve safety outcomes."

The hearing on October 14 will be an opportunity for the committee to hear from representative bodies and state and local governments about road safety in regional, rural, and remote areas. The committee will also consider road safety concerns facing Aboriginal and Torres Strait Islander communities, and measures that can be taken at the state and local government level to address road trauma.

Mr Chester said, "Aboriginal and Torres Strait Islander peoples are overrepresented in road trauma statistics, highlighting the need for culturally appropriate countermeasures which prioritise self-determination and account for the social determinants of health. In addition, we continue to see higher rates of death and serious injury on regional, rural, and remote roads, with fatality rates associated with crashes on very remote roads more than 13 times higher than fatality rates in our major cities.

"Local governments, which are responsible for managing most of our road networks, will be critical to addressing road trauma outside of our major cities, and indeed at the national level. The work of state governments will also be crucial as we look to develop integrated, holistic, nationally consistent solutions. The committee looks forward to hearing from state and local government organisations about measures that can be taken to improve safety for all Australians."

Public hearing details

Date:               Tuesday, 12 October 2021
Time:              9.30am to 5pm

Witnesses:    

Amy Gillett Foundation
AusCycling
Streets Alive Yarra
Motorcycle Council of New South Wales
Australian Motorcycle Council
Riders Action Group Western Australia
WalkSydney
Pedestrian Council of Australia
Institute for Sensible Transport
Caravan Industry Association of Australia

Date:               Thursday, 14 October 2021
Time:              9.30am to 5pm

Witnesses:    

National Aboriginal Community Controlled Health Organisation
National Rural Health Alliance
Australian Capital Territory Government
Tasmanian Government
Western Roads Federation
Western Australian Local Government Association
Northern Territory Department of Infrastructure, Planning and Logistics
Municipal Association of Victoria

Programs for the hearings are available on the committee’s website.

Due to health and safety concerns relating to the COVID-19 pandemic, hearings will be held remotely via videoconference and will not be open for public attendance. However, interested members of the public will be able to view proceedings via the live webcast at aph.gov.au/live.

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Investment firm, proxy advisers and Treasury to front House Economics Committee

THE House of Representatives Standing Committee on Economics will hear from the multinational investment firm BlackRock, institutional investor proxy adviser Ownership Matters, industry peak body the Financial Services Council and the Australian Treasury, about common ownership and capital concentration at a public hearing on Monday, October 11 2021.

Acting Committee Chair Dr Andrew Leigh MP, said, "To date, the committee has heard evidence from academic experts and the ACCC that common ownership has the potential to threaten competition within the Australian market.

 

"My own research with Dr Adam Triggs shows that Vanguard and BlackRock are the largest shareholders in Australia, and that these two index funds are often the largest shareholders for competing companies. Our research reveals that among firms where we can identify at least one substantial owner, 31 percent share a substantial owner with a rival company. Across the Australian economy, common ownership increases effective market concentration by 21 percent.

"In the United States, common ownership has been shown to dampen competitive pressures, and produce worse outcomes for consumers in the airline and banking sectors. The committee is concerned to understand the extent of common ownership in Australia, the channels through which it may harm consumers, and how transparency reforms might help," Dr Leigh said.

"As well as investment firm BlackRock, the committee will hear from proxy advice service Ownership Matters and industry peak body the Financial Services Council to garner the views of industry insiders on this issue. We will also hear from Treasury about how the Australian Government sees this potential threat to vigorous competition between firms."

Later in the day, the committee will also hear from the Energy Industries Superannuation Scheme (EISS Super) as part of the committee’s review of the Four Major Banks and Other Financial Institutions. 

The full Terms of Reference for the inquiry into common ownership and capital concentration and the review of the four major banks and other financial institutions are available on the committee’s website.

Public hearing details

Date: Monday, 11 October 2021

9.30am to 12.45pm     Common ownership and capital concentration

2.00pm to 3.00pm       Superannuation sector review

A program for the hearing is available on the committee’s website.

Due to health and safety concerns relating to the COVID-19 pandemic, this hearing is not currently scheduled to be open for public attendance. Interested members of the public will be able to view proceedings via the live webcast at aph.gov.au/live.

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Tencent Cloud highlights cloud-based game solutions and services at Melbourne International Games Week

TENCENT CLOUD, the cloud business of global technology company Tencent, has utilised its participation in Melbourne International Games Week 2021 to highlight solutions and capabilities that address gamers' and game developers' demands and needs. The annual event.is Asia-Pacific's
largest digital games convention

Melbourne International Games Week (MIGW) is attended by practitioners from the game industry, games enthusiasts, the general public and educators.

Backed by Tencent's years of experience in the game industry, underlined by its publishing of some of the most popular video games worldwide, Tencent Cloud on October 8 put the spotlight on its commitment to providing game developers and publishers the much-needed tools to build and operate a high-quality, stable and secure game environment.

With the goal of addressing common gaming-related challenges, such as cheaters and gold farmers that ruin gamers' experience; lags, delays and poor sound quality, and high difficulty for global release and testing, Tencent Cloud showcased its high-quality, reliable and secure solutions that will benefit the gaming community in Australia, including:

Game Server Elastic-scaling (https://intl.cloud.tencent.com/product/gse) (GSE), a solution that provides dedicated game server hosting services for the deployment and scaling of stateful games. It supports service discovery, flexible server scaling, and optimal resource scheduling. GSE helps developers quickly build a stable and low-latency deployment environment for multiplayer games while reducing OPS costs, and is ideal for games that need to remember data such as battle servers and push notifications in FPS, MOBA, turn-based games, MMORPG, table games, and more.

Game Multimedia Engine (https://intl.cloud.tencent.com/product/gme) (GME), which allows for a one-stop gaming voice solution. It features in-depth optimization for different gaming scenarios and types such as casual, social, MOBA, MMORPG and FPS, and supports multi-player voice chat, 3D
location voice, voice messaging and speech-to-text conversion and can be easily accessed with a simple SDK, meeting game developers' various gaming voice needs.

Anti-Cheat Expert (https://intl.cloud.tencent.com/product/ace) (ACE) with 24/7 security protection capabilities, supporting comprehensive multi-dimensional protection and detection and helping mobile game providers quickly cope with game security issues such as cheating and tampering. It
also guards the game client from malicious tampering, debugging and injection, invalidates vicious modifiers and protects game memory data integrity.

Global Application Acceleration Platform (https://intl.cloud.tencent.com/product/gaap) (GAAP), which lets users access the origin server through a high-speed connection with the aid of the nearest node to use Tencent Cloud's backbone interconnection, helping eliminate the stutters and latency experienced by global users when accessing businesses. Equipped with a graphical configuration interface, GAAP allows game developers to create and use high-speed connections on their business' origin server within minutes and view connection operational conditions in the console.

TcaplusDB (https://intl.cloud.tencent.com/product/tcaplusdb), enabling games on global and regional servers to scale and merge with no downtime, making it suitable for sustaining rapid business growth and long-tail OPS. It also comes equipped with a comprehensive set of features including high availability, disaster recovery, backup and rollback, ensuring 24/7 data storage with 99.999 percent reliability.

Tencent Cloud senior vice president, Poshu Yeung said, "Tencent Cloud's game solutions are ready, available and capable to address all challenges faced by game developers in Australia. Thus, we ultimately aim for an improved and unparalleled experience for all gamers across the continent. We
hope that through our participation and by introducing our wealth of gaming ecosystem resources and capabilities, we can further our mission of making game development easier around the world."

Tencent Cloud is a secure, reliable and high-performance public cloud service provider that fuses Tencent's infrastructure-building capabilities with the advantages of its massive user platform and ecosystem. Tencent Cloud provides global access and a rich array of services to governments and organisations that need advanced infrastructure and a resilient environment, such as those in the online games, live broadcast and financial services sectors.

As a strong testimony to Tencent Cloud's top-notch security standard and competitive services in the global cloud computing industry, Tencent Cloud was recently named Frost & Sullivan's 2020 Best Practice Competitive Strategy Leadership Award in Global Cloud Industry. It has also earned more than 20 international certifications, including but not limited to ISO22301, ISO27001, ISO20000, ISO9001, Trusted Cloud Services, CSA STAR, the Outsourced Service Provider Audit Report (OSPAR) standard and the Multi-Tier Cloud Security Standard (MTCS SS).

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Upgrade of Reef HQ Aquarium

AT A PUBLIC HEARING on October 11, the Parliamentary Standing Committee on Public Works will scrutinise a $40 million proposal from the Great Barrier Reef Marine Park Authority for facility-wide refurbishment and upgrades to deliver improved educational facilities.

These works are the final instalment of a two-stage program of $80.1 million in Reef HQ works.

This hearing is part of the committee’s inquiry into the Great Barrier Reef Marine Park Authority Transformation of Reef HQ Aquarium in Townsville, Queensland. The committee will examine the need, scope, function and cost effectiveness of the proposed upgrades, and explore how the proposed works will transform Reef HQ into a global destination of excellence in tropical coral reef education.

Public hearing details

Date: Monday, 11 October 2021
Time: 11am to 12pm (AEDT)
Location: via teleconference

The hearing will be broadcast live at aph.gov.au/live.

Note: the Parliamentary Standing Committee on Public Works is not involved in the tendering process, awarding of contracts or details of the proposed works. Inquiries on these matters should be addressed to the relevant Commonwealth entities.

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Second public hearing on referendums

THE House Standing Committee on Social Policy and Legal Affairs will on Thursday hold the second public hearing for its inquiry into constitutional reform and referendums.

The Committee will hear from the Department of Finance and the Department of Education, Skills and Employment to discuss the Referendum (Machinery Provisions) Act 1984, and education and public awareness of the Constitution.

Chair of the committee, Andrew Wallace MP, said, "Hearing from the Department of Finance will be a good opportunity to discuss whether amendments to the Referendum Act are needed to ensure that the processes for contemporary referendums remain fit for purpose.

"The committee is also looking forward to learning more from the Department of Education about civics education in schools and the broader population, and whether there is more that can be done to inform and motivate people about Australia’s Constitution. Engaging students and the wider public in constitutional matters is important to ensure that all Australians can cast an informed vote during a referendum."

Further information about the inquiry, including the terms of reference and a full program for the committee’s hearing, is available on the inquiry webpage at www.aph.gov.au/constitutionalreform.

Public hearing details

Date: Thursday, 7 October 2021
Time: 1pm to 2pm (AEDT)

Due to Covid-19 restrictions, Committee proceedings held in Parliament House are not currently open to the public. The hearing will be broadcast live at aph.gov.au/live.

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Global accounting profession unites to target net zero emissions

AUSTRALIA'S major professional accounting bodies, CPA Australia and Chartered Accountants Australia and New Zealand (CA ANZ) have joined 10 global and national accounting bodies to commit to net zero greenhouse gas emissions.

Today’s global launch is an initiative of The Prince of Wales’ Accounting for Sustainability (A4S) Project Accounting Bodies Network (ABN).

Representing more than 300,000 accountants globally, CPA Australia and CA ANZ acknowledge the impact of climate change and the urgency of taking national and international action to achieve net zero emissions.

A spokesperson said climate change was an economic risk. The accounting profession plays a significant role in tackling the challenges created by climate change. Accountants work in every sector of the economy. Achieving net zero emissions requires the skills and knowledge of accounting professionals, who are eager to help chart a course of action.

CPA Australia and CA ANZ have pledged to achieve net zero greenhouse gas emissions within their own organisations and to provide sound advice to governments for a just transition to a net zero emissions economy.

"We have also committed to providing training and guidance to our members to support them in reducing greenhouse gas emissions in their own organisations and businesses," the spokesperson said.

CPA Australia chief executive Andrew Hunter said, “The accounting profession occupies a privileged position in the global economy. As trusted advisers, we’re privy to deep business insights about sustainability risks and opportunities. This knowledge creates an obligation to use our skills to protect our environmental heritage. CPA Australia is a global organisation in a global profession and we’re proud to be part of the global response to climate change.”

CA ANZ chief executive Ainslie van Onselen said, “The pandemic has been a living example of the significant impact that non-financial risks can have on businesses and global economies. Climate change is a non-financial risk that is no longer an issue on the horizon, it’s here and now. CA ANZ is committed to equipping members to meet these new challenges. As customers and investors increasingly consider sustainability in their decision making, the accounting profession is well placed to support a just transition.”

Executive chairman of A4S Jessica Fries said, “The accounting bodies making this commitment are showing leadership in the fight against climate change. Accountants who work for the good of their businesses, and serve the public interest, have always been the backbone of stable economies. This commitment brings us closer to building a sustainable world.” 

The importance of today’s launch is underscored by the Intergovernmental Panel on Climate Change’s (IPCC) Sixth Assessment Report, which revealed that Australia’s climate warmed by around 1.4 degrees celsius between 1910 and 2020. The economic impact of climate change is also gaining attention in the lead-up to the United Nations Climate Change Conference (COP26) next month.

Background

CPA Australia and Chartered Accountants Australia and New Zealand are members of The Prince of Wales’ Accounting for Sustainability Accounting Bodies Network. This network represents over 2.5 million professional accountants and students across 179 countries. Twelve ABN members have signed the Net Zero Commitment. Read the Commitment here.

 

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CFMEU head office COVID-19 positive cases grow

THE CONFIRMED COVID-19 cases from the CFMEU Victorian head office protest gathering have grown to seven, spreading to innocent family members including, elderly parents, wives, brothers, and sisters as well as dozens of young children including two babies.

John Setka, Secretary of the CFMEU Victoria-Tasmania said, “The tragedy is that due to the actions of these reckless and selfish protesters, many of these members families who have been infected are very sick with the delta virus.

“These protesters are just selfish idiots with absolutely no care for anyone other than themselves. The have caused enormous stress and heartache for members families’ who were just doing their job on the day of the protest.

“While we welcome construction opening back up to 25% percent today, these members won’t be going back to work and along with their families will be in quarantine for two weeks with the added stress of so many family members being very sick and some hospitalised.

“The CFMEU along with the Building Industry Group of unions are committed to continuing to work tirelessly to get everyone back to work and do our bit to help stop the spread of this virus which doesn’t discriminate,” Mr Setka said.

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