An injection of more than $50 million from the Queensland State Budget will boost exploration initiatives in the state’s resources sector while also helping make its landscapes more resilient.
The $21 million Frontier Gas Exploration grants program is a new initiative that will help drive exploration for new gas reserves in the Bowen and Galilee Basins over the next two years.
Nearly $10 million of additional funds will be invested over the next four years under Queensland’s vegetation management framework with a focus on working with landholders on the government’s commitment to achieve emission reductions targets.
The Government will continue to implement the Queensland Resources Industry Development Plan, a 30-year vision to grow and transform the sector.
The Natural Resources Recovery Program (NRRP) will continue to be supported, providing $10 million in grants in the next financial year to help improve the resilience of Queensland’s natural landscapes and support jobs.
Premier Annastacia Palaszczuk said the resources sector is one of the key drivers of Queensland’s economy supporting about 75,000 good jobs mainly in regional areas.
“We are continuing to back the resources industry, the people it supports along with our regional communities through this year’s budget.”
Treasurer Cameron Dick said the budget is designed to grow and transform Queensland’s resources sector and to keep it thriving.
“We value the resources industry for the jobs it supports and the royalties it generates which help support our regional communities throughout Queensland.”
Resources Minister Scott Stewart said exploration is the lifeblood of new resources projects and jobs, which is why the government continues to support exploration.
“The NRRP has been extremely popular because it increases the potential of the state’s natural resources, supports the creation of good jobs and regional economies
“That is why we will continue to support in this program with $10 million in the next financial year.
“This is a budget that will continue to invest in our natural resource assets to achieve real environmental and economic outcomes for Queensland communities.”