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    Coat of ArmsMedia Release
    Minister for Natural Resources, Mines and Energy and Minister for Trade
    The Honourable Stephen Robertson

    Queensland attracts record mining exploration investment

    Minister for Natural Resources, Mines and Energy and Minister for Trade
    The Honourable Stephen Robertson

    Tuesday, September 14, 2010

    Queensland attracts record mining exploration investment

    A record $917.1 million in exploration expenditure was invested in Queensland’s mining and petroleum industries during 2009-10, Mines and Energy Minister Stephen Robertson said today.

    Mr Robertson said the latest Australian Bureau of Statistics figures highlighted the ongoing value of Bligh Government initiatives to boost exploration in Queensland.

    “This record $917.1 million investment in Queensland represents a massive 43 per cent increase on the 2008-09 figures of $639.9 million,” he said.

    “Exploration expenditure in the minerals sector (including coal) increased 24 per cent from $351.7 million in 2008-09 to $436.6 million.

    “At the same time, investment in petroleum and gas exploration jumped 66 per cent from $288.2 million in 2008-09 to $480.5 million.

    “This represents 60 per cent of total Australian onshore petroleum expenditure and clearly reflects the intense exploration activity in the search for coal seam gas.

    “It’s also interesting to note Queensland’s mineral exploration expenditure was greater than the combined total $402 million invested in NSW, South Australia, Victoria and Tasmania.”

    Mr Robertson said Queensland’s performance clearly shows the exploration industry recognises the State’s potential for further mineral and energy discoveries.

    “It underpins Queensland’s reputation as an attractive exploration investment destination,'' the Minister said.

    “It also reflects the outstanding success of the Bligh Government’s $49 million Smart Mining – Future Prosperity and Smart Exploration programs.

    “In fact, exploration expenditure in Queensland during the life of these programs increased from $244 million in 2004 to the present $917 million.

    “That well and truly delivers on our 2006 election commitment to double exploration expenditure to $540 million by 2009.”

    Mr Robertson said the Bligh Government was building upon this success through its commitment to make Queensland the greenfield exploration capital of Australia by 2020.

    “We are investing a further $18 million through our Greenfields 2020 program to encourage exploration in frontier and under-explored regions of the state.

    “We are also investing $12.5 million in streamlining initiatives to help industry projects through government approval and regulatory processes, and a further $10.7 million on upgrading tenure management systems.

    “A healthy exploration sector means a healthy economy, regional development and, most importantly, jobs.

    “That’s why the Bligh Government will continue to provide tangible support to industry and help make Queensland the greenfield exploration capital of Australia by 2020,” he said.

    Media contact: 0417 154 660