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    Minister for State Development and Minister for Natural Resources and Mines
    The Honourable Dr Anthony Lynham

    Budget digs deep for next gen resource projects, jobs

    Minister for State Development and Minister for Natural Resources and Mines
    The Honourable Dr Anthony Lynham

    Wednesday, June 14, 2017

    Budget digs deep for next gen resource projects, jobs

    More than $27 million is set aside in the State Budget to enable the next generation of resource projects in the State’s north-west.

    Minister for Natural Resources and Mines Dr Anthony Lynham said $27.125 million would be invested over four years to expand resource exploration and development for gas in new basins and minerals in the North West Minerals Province.

    “Our multi-billion dollar mineral resources sector is at a critical juncture where some mines are entering the end of their project cycle, and this new investment is focused on the next frontiers,” he said.

    “Without an ongoing exploration program, we will not be able to keep the keep discovery conveyor belt moving which provides our resources stream in the longer term.

    “In this budget, there is funding for different forms of mapping so explorers can better understand   what’s below the ground both vertically and latitudinally.”

    This includes:

    • $7.125 million for the Strategic Resources Exploration Program to provide vital geological data to encourage new discoveries of gas and minerals in the North West
    • $3.6 million for gas exploration in the new frontier Georgina, South Nicholson and Isa Super basins
    • $4.275 million for mineral geophysics to pinpoint the locations of potential new mineral prospects over wide areas.
    • $1.450 million for mineral geochemistry programs to identify the type of potential mineral deposits (e.g copper, or lead, or zinc etc)  
    • $4.950 million for mineral synthesis to develop a comprehensive and integrated understanding of the geology of the North West Minerals Province.
    • $925,000 to support national research into advanced techniques used in the discovery of mineral deposits in frontier regions
    • $3.6 million for the Collaborative Exploration Initiative which helps explorers target and test identified mineral prospects in frontier regions.

     This funding is part of the Palaszczuk Government’s Strategic Blueprint for the North West Minerals Province.

     Dr Lynham said the focus on gas was another Queensland initiative to tackle the national energy issue of gas shortages in the east coast market.

     “Queensland continues to do the hard yards on gas supply, with this investment on top of our releases of land for gas to be sold in Australia only,” he said.

     “Now that the Bowen, Surat and Cooper Basins are in production phase the time has come to open  the next big frontier.

     “Our current geoscience data for these north west basins shows there are potential opportunities for gas production.

     “Resource companies are already actively exploring in the North West and with our new exploration program, we will encourage more companies to further open up this frontier.

     “We would like to see the Georgina, South Nicholson and Isa Super Basins in the North West of the State become as valuable as the Bowen, Surat and Cooper Basins are.”

     The new exploration investment comes on top of previous initiatives to drive exploration including:

    • exploration industry expenditure concessions, which have provided $35 million in financial relief to explorers since March 2016
    • the state’s first annual exploration program, which set out planned land releases for 2016-17 to provide certainty for industry, landholders and traditional owners.

    [ENDS]

    Media contact : 0439 341 314

    EDS: Visit the DNRM media centre to download a map of the Queensland basins listed here.