Queensland companies have secured funding to dig, drill, sample, and survey new critical mineral deposits across the region.
The latest Collaborative Exploration Initiative (CEI) round has allocated up to $300,000 to 18 projects, spanning areas near Chillagoe, Cloncurry, Mount Isa, and Townsville.
The CEI funding aims to prioritise the discovery of critical minerals essential for producing technologies such as solar panels, turbines, batteries, and other decarbonisation necessities.
Notably, nearly three-quarters of the successful projects focus on discovering new copper deposits, a crucial resource for clean energy.
The Queensland government has committed $22.6 million over five years to the CEI program as part of the Queensland Resources Industry Development Plan.
This initiative supports exploration companies in fast-tracking critical mineral discoveries in the state.
The CEI program complements the Queensland Critical Minerals Strategy, which oversees $245 million in investment aimed at transforming the state, national, and global economies through the responsible use of Queensland’s critical minerals.
This effort builds on the government’s $5 billion Copperstring 2032 project, which aims to unlock potentially $500 billion of critical mineral projects in the North West Minerals Province.
QLD Minister for Resources and Critical Minerals Scott Stewart stated: “Queensland companies are on the hunt for minerals that will power tomorrow’s world. This funding provides a financial safety net for explorers to take on projects in the hope that it will lead to important discoveries.”
The program data will be made publicly available to encourage more critical mineral discoveries in Queensland.
True North Copper Managing Director Marty Costello said: “The Vero Deposit at Mt Oxide is our next mine. This is a pivotal moment for True North Copper as we aggressively explore the Mt Oxide Project.”
The successful projects and the Collaborative Exploration Initiative can be explored further for those interested.
Funding is currently provided under the Queensland Resources Industry Development Plan, with $22.6 million available until June 2027 to support Queensland’s exploration companies.