A new exploration blueprint has been launched to drive the next wave of resources sector investment in Queensland’s North West Minerals Province.
Unveiled by Queensland mines minister Anthony Lynham, the blueprint was created to secure the next generation of resource development in the Province.
“The blueprint represents the combined efforts of government, industry and business stakeholders from across North West Queensland to facilitate a strong and prosperous future for this important region,” he said.
The blueprint builds on existing measures such as the Resources Development (Royalties) policy and its incentives for major resources projects in the Galilee and Surat Basins and the North West Minerals Province.
It has a range of actions designed to enhance continued resource sector development, including large-scale geological surveys to identify new commercial deposits; a four-year exploration program to support exploration in greenfield and high-risk areas; more international promotion to investors including an annual investor forum in Townsville; and red-tape reduction for explorers, including a hands-on team to help smaller miners get their projects over the investment line.
Amid the blueprint release, Teck Australia – one of the biggest producers of base metals and speciality metals such as germanium, indium and cadmium – also secured a tender to explore 102km2 of land near Cloncurry. The tender also comes on the back of the rise in metals prices over the the six months to December, with the price of zinc rising 35 per cent and lead jumping 32 per cent.
Teck Australia will begin exploring for zinc, lead and silver as soon as it gains the necessary environmental and native title approvals.
The blueprint also follows the release of the 2017-2022 National Mineral Exploration Strategy by the Council of Australian Governments (COAG) Energy Council, which reinforced the importance of finding new, high-quality deposits and Australia’s key role under cover mineral exploration.