'Full, fair and reasonable': Resources report to be revealed
ALMOST $19billion was spent by the resource sector on purchases of goods and services across the state, according to new figures released by the Queensland Resources Council.
The statistic formed part of the 2017-2018 Local Content Report, which will be revealed at tomorrow's GEA Supply Chain Expo.
Queensland Resources Council executive Ian MacFarlane said the large economic contribution primarily went towards wages where a project is located.
"(Small and medium enterprises) make up a very important part and being able to document (data) allows us to pick-up trends - particularly positive trends," Mr MacFarlane said.
"If there are negative trends, it helps the QRC figure out what is going on, which not only demonstrates the value of a project to the local community but also to government authorities."
The report summarised the industry's progress in implementing the Code of Practice for Local Content across Queensland and the regions.
The code encourages resource companies to implement an approach of a 'full, fair and reasonable' opportunity for local suppliers to tender for work and supply the industry.
"The QRC emphasise to companies, operating in the regions, that a clear sign of their commitment to the local community is to put as much spend through that community that is practicable," Mr MacFarlane said.
"When companies do this it not only builds up a strong bond between the projects and helps the local economic status of the region, but it's also building a good personal relationship with the supplier."
As a result of the new approach, Mr MacFarlane said there was a 'significant improvement' in payment terms and a 'better understanding' of the companies local suppliers rely on.
"I believe there is now a better understanding between the supplier and the company where their relationships have improved," he said.
The report will be released from 10am at the Gladstone Entertainment Convention Centre.