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Opportunity awaits resource investors: minister.

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The Hon Martin Ferguson AM MP

20 Jul 2009


The Minister for Resources and Energy, Martin Ferguson AM MP, has outlined the Government’s response to the energy security challenges facing Australia and said good opportunities exist for investors in Australian energy resources.

Speaking to the Queensland Resources Council in Rockhampton, Minister Ferguson said: “Global energy demand is forecast to grow by 40 per cent by 2030 and Queensland and Australian resource producers will play an increasing role in meeting the energy needs of Asia.

“Companies which look beyond the current financial crisis and begin preparing for the growth that will inevitably come will reap huge benefits, as the next wave of growth from countries like China and India will present incredible opportunities for resource-rich, reliable suppliers like Australia.”

Minister Ferguson said the Government’s nation building infrastructure agenda will support growth in Australia’s important resource export sector.

Minister Ferguson said: “The value of Australian resources exports increased 46 per cent throughout 2008, however much of this increase was built on surging commodity prices, rather than growth in production.

“Australia’s next generation of prosperity must be different to the last. When global growth returns, it is crucial that Australia's resources sector can increase production and be free of past capacity constraints.

“To this end, the Government is building crucial export infrastructure and has delivered a Nation-building Budget which invests in roads, rail, and ports.

“It includes $580 million for Hunter Valley rail projects which will double coal-carrying capacity, $339 million for critical common user infrastructure at Oakajee Port, $50 million for the proposed Darwin Port expansion, and $1.5 billion for Queensland road & rail projects.

“Investing in infrastructure has the twin benefit of pumping money into the economy to see us through the global recession; and giving exporters the tools they need to export efficiently at volume.

“The Government is pleased to be assisting those companies which have the foresight to prepare now for global growth.”

Media contact: Michael Bradley - 0420 371 744