Govt grants to bring big rigs into the north west

Four exploration companies will be given State Government grants to help shoulder the cost of bringing drilling rigs to mineral exploration sites in the north west, Mines and Energy Minister Geoff Wilson said today.

Minister Wilson said around $60,000 would be given to a cluster of companies to help them bring big drilling rigs into the region.

“This will help fast track drilling in the Mount Isa, Cloncurry and Croydon areas where explorers are searching for copper, gold, lead, zinc and silver,” Mr Wilson said.

Member for Mount Isa, Betty Kiernan said the North West Mineral Province, centred on Mount Isa and Cloncurry, was one of the most important mineral producing regions in the world.

“By investing in mineral exploration and giving explorers a helping hand, we’re investing in the people who live and work in the region.

“We’re helping to provide jobs and job security for the men and women who work in the mining industry,” Mrs Kiernan said.

“The north west has some of the largest zinc and lead mines in the world. Together these mines produce about 1.5 million tonnes of zinc concentrate and about 800,000 tonnes of lead concentrate a year,” she said.

Red Metal Limited and Teck Cominco Australia Pty Limited have been granted more than $40,000 to support their exploration work around Cloncurry.

“They plan to bring a drilling rig from South Australia, which will boost the drilling resources in Queensland,” Mr Wilson said.

“The partners Xtreme Resources Limited and Superior Resources Limited will use their grant to drill for minerals around Mount Isa and Croydon,” he said.

The two grants awarded form part of the first round of funding from an $800,000 State Government initiative to encourage the better use of drilling and resources in Queensland.

“It’s open to two or more exploration companies that agree to share drilling and geophysical resources around the same area.

“Applications for the next round of grants will close in April next year and I encourage companies to take advantage of the initiative,” Mr Wilson said.

Media Inquiries: Ellen McIntyre 3225 1819