Doors close soon on latest opportunity in rich mineral province

In Exploration, Latest News, Resource Extraction & Processing
Northern Minerals Browns Range Plant

Would-be explorers have just over a week to make a bid to explore one of the world’s richest base metals precincts: Queensland’s North-West Minerals Province.

Mines Minister Dr Anthony Lynham said the latest exploration tender closes next Friday, 24 May for more than 10000 square kilometres of the state’s north-west.

“The North West Minerals Province is a world-class base metals region, and also has rich deposits of the rare minerals – including lithium, cobalt, and graphite – that drive the latest technological innovations.

“The increasing demand for these rare metals offers significant industry and employment opportunities for Queenslanders and helps position Queensland as a key supplier to the hi-tech industry globally.

“Metals exploration in Queensland has increased 58 per cent to $47.3 million, investing in the industry’s future.

“I say to resource companies, step up now, because this north-west tender could open the door to the next pipeline of mega projects.”

Dr Lynham said the state’s resources sector was maintaining its positive momentum from 2017and continuing to create jobs.

“Over the 12 months to March, our resources exports were worth $56 billion, a 15 per cent increase over the previous year,” he said.

“The most recent ABS data shows Queensland’s resources sector directly employed 59,000 people in February 2018 – 3,000 more than last February.

“The coal and metals industry have been primarily responsible for this increase in jobs, which has come on the back of higher production from existing and new mines.

“Over the past six months, we’ve seen higher global coal prices with several mines expanding production, including Realm Resources re-opening a second pit at its Foxleigh mine near Middlemount.

“The Queensland metals industry is also experiencing a period of strong global prices, with base metal prices of copper, zinc and lead prices up significantly. “

For more information visit https://www.business.qld.gov.au/industries/invest/mining/exploration-incentives.

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