KEEPINGTHE
PIPELINEFLOWING
STEVE KNOTT
CHIEF EXECUTIVE
AUSTRALIAN MINES AND
METALS ASSOCIATION
Commentary that investment growth inAustralian resource projects is on a downward
trend does not sit well with Australian Mines and Metals Association (AMMA) Chief
Executive Steve Knott, who says the numbers do not stack up to such theories.
In this article, Mr Knott explains that Australia’s great resources opportunity has
only just begun, however prudent government policy is necessary to keeping the
project pipeline flowing.
Over the past decade, the resource industry has been
responsible for the greatest creation and transfer
of wealth and skills in Australia’s history. Despite
some media and public commentary, this momentum is
not slowing.
Capital investment in the resource sector continues
to set record after record, with the value of approved
projects in the advanced stages totalling $260 billion
and an additional $250 billion worth of projects in the
investment pipeline.
The employment levels also continue to grow rapidly.
In the last five years, the number of people directly
employed in the resources industry has doubled to
270,000.
By 2016, this is forecasted to be at least 350,000.
However, against a backdrop of economic uncertainty,
Australia’s policy makers must ensure the underlying
determinants of investment and productivity in our
country are enabling our resources employers to deliver
these benefits.
In recent months we have seen some unsettling
developments that suggest our industry’s prosperity
has been taken for granted. A small number of
resource projects across the country have been shelved
or delayed due to global and domestic economic and
industrial condition.