Almost $80 million will be invested in Queensland’s resources sector and the state’s lands and waters as part of the 2022-23 State Budget.
Resources Minister Scott Stewart said the investment would help grow and diversify the resources industry into the future with a focus on jobs and projects in Queensland’s emerging new economy minerals sector.
Mr Stewart said exploration is the lifeblood of new resources projects and jobs, and its essential the sector continues to be supported, including with free access to first-rate geological data.
“The latest statistics show that exploration is going strong in Queensland, with exploration expenditure up to $726.5 million in year to March, up 3.1 per cent on the same period a year ago.”
Mr Stewart said the 2022-23 State Budget will continue to drive exploration and the next generation of jobs and projects for the resources sector through:
- $17.5 million over four years for grants to explorers under the Collaborative Exploration Initiative, supercharging the search for new economy minerals
- $10 million over two years for airborne and ground-based geophysical surveys
- $5 million over two years for research to better define Queensland’s new economy minerals potential
The budget also provides:
- $5.7 million over three years to add a future industries delivery hub to the existing Resources Centre of Excellence in Mackay
- $1.6 million to streamline the assessment of applications to mine and explore
Mr Stewart said Queensland’s ongoing economic recovery also hinged on the state’s land resources and maximising their sustainable productivity.
“This budget provides $40 million over four years, and an ongoing $10 million a year, for a Natural Resources Recovery Program,” he said.
“This will allow the department to support better, sustainable productivity, and jobs, from Queensland’s land resources.”