The Queensland government has reaffirmed its strong support for the state’s resources sector, injecting more than $90 million in the 2024-25 Budget to boost the industry and investigate new opportunities.
In a significant commitment, the Budget allocates $4 million to explore the potential for a natural hydrogen industry in Queensland.
Natural hydrogen extraction is an emerging field and could play a crucial role in the state’s energy mix as it moves towards decarbonisation.
Queensland Premier Steven Miles said the resources industry is a key economic pillar for Queensland, employing thousands of people and sustaining rural communities.
“The royalties it generates help fund vital infrastructure all Queenslanders use, like hospitals, schools, and roads,” he stated.
The Budget also allocates $70.6 million over four years, starting from 2023-24, to continue monitoring, managing, and securing abandoned mine sites across the state.
Additionally, $17.5 million will be provided over four years until June 2027 through the Collaborative Exploration Initiative, supporting exploration companies in discovering the minerals and metals needed globally, as outlined in the Queensland Resources Industry Development Plan.
Deputy Premier and Treasurer Cameron Dick highlighted the resources industry’s significance, stating: “Queensland’s resources industry is the best in the world and the workers who ply their trade in the industry are renowned across the globe. The resources industry also provides valuable revenue to the Queensland State Budget, enabling the delivery of essential infrastructure and services this growing state needs.”
Resources Minister Scott Stewart emphasised the Budget’s commitment to the resources sector and its 75,000 workers.
“We signalled our intent to lead the sector into the next industrial revolution with the $315 million investment into growing Queensland’s critical minerals sector, and this year we are providing additional funding to explore the potential for a natural hydrogen industry,” he said.
Stewart also announced a $5 million allocation for security and safety works on the former resort land on Great Keppel Island.
“We’re also committed to protecting Queensland’s natural resources which includes our wonderful islands. We are doing this because we believe in GKI’s tourism potential and for the jobs and business opportunities it will create for Queensland,” he added.