The industry report card found that represented an annual increase of $6.0 billion, or 68.4 per cent, although the QRC said this was a conservative figure as not all companies disclosed royalty payments.

The industry is still fighting the State Government over the huge impact in coal royalties and Treasurer Cameron Dick said there were a few things he didn’t agree with in the report but there was agreement on the fact that the resources were owned by the people of Queensland and were delivering billions more under the royalty regime.

“And the LNP want to hand those royalties back to the coal lobby,’’ Dick said.

“To do that, the they would have to cut the hundreds of dollars in cost-of-living relief that we are handing back to every Queensland family.’’

The QRC annual forum today would be the last for chief executive Ian Macfarlane, who is retiring at the end of the year. His term has been one of the most volatile for the sector which has fought battles over the royalties issue as well as the approval for thermal coal mines.

The QRC report said the total economic impact of the Queensland minerals and energy sector was estimated at $116.8 billion in gross value added – the largest contribution recorded since the inception of the study in 2009/10 – and 532,918 jobs supported in 2022/23.

Expenditure data provided by QRC full-member companies indicated that the minerals and energy sector contributed $55.0 billion in direct spending to the Queensland economy in 2022/23.

The largest contributor to the total direct expenditure of the minerals and energy sector in Queensland in 2022/23 was coal mining with approximately $39.8 billion, or 72.3 per cent of total spending, followed by metals ($6.9 billion, or 12.5 per cent), petroleum & gas ($6.5 billion, or 11.7 per cent) and other ($1.9 billion, or 3.4 per cent)

Guest speaker at today’s industry forum, Shadow Resources Minister Susan McDonald said Labor’s attacks on Australian coal miners was utter madness considering the spending and contribution figures in the report.

She said the millions the Government spends on funding the Environmental Defenders Office to wage legal warfare on government decisions undermines any credibility or illusion of support for the resources sector.

“Mining companies need to better champion their vital contribution to our first-world economy and lifestyle to their employees and the public.

“Unions make no secret of their animosity towards political parties they don’t believe are acting in their best interests, and resources companies should be adopting a similarly assertive stance to the biggest threats to their interests: Labor and the Greens.

“I urge resources companies and their industry peak bodies to unify and come together to combat destructive anti-resources rhetoric currently being peddled by a vociferous minority.’’