Property and Finance Brief 9 April 2013
Queensland’s population on the move
The latest ABS figures to September 20102 show Queensland’s population grew by 91,389. Queensland also saw a net gain of 12,104 from interstate migrants (ie more residents arrived over the state/territory border than left for other states/territories). The highest level in net migration since December 2009.
NSW progresses CSG plans
The NSW Government will push ahead with the expansion of the state's Coal Seam Gas industry despite increasingly organised opposition from home-owners, farmers and environmental groups. Resources and Energy Minister Chris Hartcher says there would be "catastrophic consequences" if NSW did not develop its own supply of gas. Supplies would begin to run dry as early as 2014 and prices are already set to rise, with predictions they could double within five years.
More investment planned for states South West
A $4 billion gas, fertiliser and electricity production complex at Miles is planned by a Perth-based gas
company. Liberty Resources said the gas plant component of the project, worth $1.4 billion, would be moved up the company's "to do list". The company said current east coast market conditions favoured an earlier start on the project, which may also be built at Injune. The project still requires investment to go ahead. Liberty resources managing director Andrew Haythorpe said the company was well placed to begin construction. If it goes ahead, 1,500 jobs will be created during construction, plus 200 permanent jobs.
$5 Billion coal project for central Queensland
A Chinese company is planning a $5 billion coal project for Central Queensland. The Mac Mines China Stone project will mine up to 60 million tonnes of coal per year, 45 million of which will be exported. When China Stone hits peak production, it will export four times more coal than Central Queensland's largest mine. The project will be situated 300km west of Mackay.