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Property News

Queensland's mining industry surges ahead

June 25, 2012

Queensland's resource sector is rivalling the booming mining industry in Western Australia, with the latest Australian Bureau of Statistics (ABS) showing the sunshine state continues to enjoy record economic growth.

The employment industry in resource-rich Queensland is thriving with a 21 per cent increase in mining jobs since May 2011.

Some of the 72,400 people directly employed in the mining industry may be attracted to buying residential property in the lucrative sunshine state, which shows no sign of slowing down economically.

Buying a house in Queensland may be appealing, with the latest statistics showing that on top of the booming employment sector, capital investment in the state had surged ahead by 250 per cent.

Natural resources and mines minister Andrew Cripps said: "The ABS statistics show that private capital investment in the mining sector for the year to 31 May 2012 was a new record of almost $21.7 billion."

Mr Cripps said that the industry had become the driving force of the state's economy with almost 300,000 people indirectly employed full-time as a result of it.

"This equates to more than 17 per cent of Queensland's full-time workforce, or better than one job in every six," he explained.

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