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Palaszczuk Government making more land available for exploration

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Global Mining Review,

The Palaszczuk Government’s announcement on 4 May calling tenders to explore more than 540 km2 for coal development for export, steel production and electricity generation was another vote in confidence in mining sector jobs, Queensland Resources Council Chief Executive Ian Macfarlane said.

“I welcome the Government’s announcement. Exploration is an important indicator of confidence in the resources sector and it is an investment that will grow jobs over the longer-term,” he said.

“As Natural Resources and Mines Minister Dr Anthony Lynham said, the resources sector already contributes to one in eight jobs in Queensland.

“The industry commends the Minister and the Palaszczuk Government on its confidence in the resources sector to generate jobs, attract investment and grow the State’s exports.”

Queensland Exploration Council Chair, Brad John, said QEC was pleased to see the Government making more land available for exploration.

QEC’s Exploration Scorecard 2017 identified land availability as a priority for coal explorers. Further coal exploration and discoveries will maintain Queensland’s reputation as a world renowned coal producer.

Exploration expenditure in Australia is increasing, with BDO’s Explorer Quarterly Cash Update recently showing a 7% increase in exploration expenditure between the September and December 2017 quarter as well as investing cash flows more than doubling to AUS$524 million in that period.

Macfarlane said this latest tender for metallurgical and thermal coal in the Bowen, Surat and Galilee basins followed two current tenders for exploration.

The Government is seeking tenderers this month for exploration permits over 1107 km2 in the North West Minerals Province and for authorities to prospect for petroleum and gas over 17 245 km2.

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