Queensland budget highlights resources-led recovery

Queensland Resources Council CEO

Queensland Resources Council CEO Ian Macfarlane (left) meeting with Queensland Minister for Resources Scott Stewart (right). Image: Queensland Resources Council.

Queensland’s resources sector and land programs have been allocated more than $42 million by the state government, as part of the 2021-22 budget.  

Resources Minister Scott Stewart said the latest budget would allow Queensland to continue its resources-led recovery through exploration grants, initiatives and mine rehabilitation programs.

“Investing in Queensland’s world-class resources sector is a key part of Queensland’s plan for economic recovery,” Stewart said. 

 Stewart said the budget will invest $15.5 million in rehabilitating abandoned mines in Queensland

He said the government will continue supporting explorers in discovering new economy minerals which are integral for the sustenance of renewable technology such as electric vehicles and batteries.  

As the world deals with the effects of COVID- 19, Queensland wants to invest in its resource sector to recover from the pandemic as an important economic plan by investing $2.5 million towards Collaborative Exploration Initiative grants.

A further $2.2 million will be provided to support the development and expansion of the New Economy Minerals Industry.  

According to the latest data released by the Australian Bureau of Statistics, exploration has seen a surge of 22.5 percent in 12 months increasing it to $705 million.  

The Queensland government stated the need to support the exploration industry is  essential in finding new deposits and developing new projects which provide more royalties, exports and jobs for the people in Queensland.  

As part of the Queensland Natural Resources Investment Program to improve and restore rangelands, soil and vegetation catchments, $11 million has been allocated  along with an additional $500,000 to explore better partnerships and innovative ways to deliver grant programs.  

Stewart said he will support the management of disclaimed mine sites and maintenance of Queensland’s stock route network, which includes investment in digital solutions to support datasets used to boost Queensland’s economy and other plants and property to support service delivery requirements.  

The 2021- 22 budget focusses on the getting businesses and people working.   

“Investing in Queensland’s world-class resources sector is a key part of Queensland’s plan for economic recovery,” Stewart said.  

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