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Exploration funding will lead Queensland’s resources sector

Exploration funding will lead Queensland’s resources sector

Funding for exploration is set to support the mining industry in Queensland.

The Newman Government will invest $7.5 million over three years to the priority geoscience projects the mining and petroleum industries believe are vital in supporting exploration growth in Queensland.

The first round of Industry Priorities Initiative projects is being funded through the government’s $30 million Future Resources Program, Natural Resources and Mines Minister Andrew Cripps announced in an October 25 media release.

The announcement comes as part of seven key initiatives undertaken by the government to support the mineral exploration industry, along with energy-related exploration.

In order to identify Geological Survey of Queensland projects that the industry believes will make the biggest contribution to maximising exploration success, the government met with a number of invested organisations.

The groups consulted were the Queensland Exploration Council, the Association of Mining and Exploration Companies and the Australian Petroleum Production and Exploration Association.

A panel of GSQ experts then evaluated the project proposals from these organisations to select which would receive funding.

“The four projects selected for the first round of funding involve the acquisition and analysis of pre-competitive geoscientific and geophysical data right across Queensland,” Mr Cripps said.

“These projects will significantly raise Queensland’s resource exploration investment profile, as well as boost the effectiveness and success rate of resource exploration in this state.”

This will be encouraging news for those seeking mining or resources apprenticeships in Queensland as growth in the state’s resources sector is receiving praise and encouragement across many platforms.

“Less than a decade ago, Queensland would have been reeling from the impact of the depressed global coal market that’s confronting us now,” Queensland Resources Council acting Chief Executive Greg Lane said after the opening of QGC’s Kenya Water Treatment Plant near Chinchilla on October 23.

“But here we are today, marking the QGC’s investment of around $1 billion in water infrastructure in the Western Downs literally hours after completion of their 540 kilometre gas pipeline to Gladstone.”

Mr Lane attributed at least some part of Queensland’s current growth to the signing of a memorandum of understanding with the federal government for a one-stop environmental approvals process.

“Queensland’s environmental capability runs are on the board and being demonstrated through projects such as this plant and pipeline to Curtis Island,” he said.

Support of exploration projects are crucial for the ongoing success of the Queensland resources sector.

“Exploration today will help unearth the resources that will drive the mines and jobs of tomorrow. Geoscience projects like these will help ensure Queensland remains globally competitive and an attractive destination for exploration investment,” Mr Cripps said.

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