Queensland Minister for Natural Resources, Mines and Energy, the Hon. Dr Anthony Lynham, has just announced a multi-million-dollar package which will help support the survival and revival of the state’s explorers to maintain the pipeline of resources projects and jobs.
The package waives rents, freezes fees, relaxes requirements and makes more land and funds available to stimulate exploration to sustain the state’s explorers.
Dr Lynham said a strong pipeline of exploration is critical to the state’s future mineral and gas projects, to future jobs and to future business opportunities for Queensland companies.
“We have to ensure the survival of our explorers, many of them small to medium businesses, until the current situation improves and the economy recovers.”
Dr Lynham said the resources sector has weathered the COVID-19 storm better than most, but many enterprises have had to put exploration activities on hold as a non-essential activity to reduce risks to their workforce and local communities.
“Many junior companies are having difficulty raising essential capital to meet exploration and holding costs.”
The package includes:
- A 12-month waiver of rent on exploration land due between 1 April and 1 September;
- A freeze on fees and charges until 1 July 2021;
- Releasing almost 7000 square kilometres of land for gas and mineral exploration later this month;
- Bringing forward $2.8 million in grant funds for innovative exploration in the North West Minerals Province.
A total of 6700 km2 of land will go to tender for gas in central and south-west Queensland on 14 May.
A total of $2.8 million in Collaborative Exploration Initiative grant funds have also been brought forward to 2020-21 from a $13.8 million investment package announced late last year.
Explorers can apply for grants of up to $200,000 from today for new and innovative exploration activities.
For more information, please visit dnrme.qld.gov.au