$10m funding boost for gas and mineral exploration
EXPLORATIONS for minerals will become the way of the future thanks to a new state government-funded cash injection, the Association of Mines and Exploration has announced.
A total of $10 million in exploration grants announced today by Queensland Premier Annastacia Palaszczuk has been welcomed by the Association of Mining and Exploration Companies.
AMEC Chief Executive Warren Pearce said the new initiative would open doors for new discoveries in regions otherwise uncharted for mines and minerals.
"This initiative will help the discovery and development of new mines and demonstrates the
commitment of the Queensland Government to advance its new economy or critical minerals industry," Mr Pearce said.
"Queensland has huge potential for the discovery and development of new economy or critical minerals, and the $10m booster pack will be a strong attractor for new investment into Queensland.
"This nation leading package further cements Queensland as a destination for critical minerals investment and will ultimately help the state become a major contributor of minerals into battery and renewable energy technologies.
"AMEC has been advocating to the government to prioritise the development of a critical minerals industry and it is especially pleasing to see Premier Palaszczuk and Minister Lynham target this opportunity."
New and much-needed opportunities for employment and jobs would also be a positive of the funding and explorations, according to Mr Pearce.
"There is no doubt that these type of exploration initiatives creates jobs, revenue for local communities and future royalty streams," he said.
"It will help find new and more sustainable deposits of minerals needed to supply the demand from emerging technologies, Queensland's export partners and to provide the minerals needed for the rapidly growing renewable energy industry."
This funding package is part of the second stage of the Queensland Governments Unite and
Recover for Queensland Jobs plan.
"The minerals industry now looks forward to working with the Queensland Government on these initiatives to attract investment and support the economic recovery of the state," Mr Pearce said.