Queensland resources sector has welcomed the Palaszczuk Government’s decision to meet the growing global demand for metals by releasing 1100 square kilometres of land for exploration in the State’s mineral rich North West.
Queensland Resources Council (QRC) Chief Executive Ian Macfarlane said the ongoing commitment by Minister for Natural Resources and Mines Dr Anthony Lynham to the sector was leading to further investment.
“The focus on the North West is both an important recognition of the region’s extraordinary mineral potential and the growing demand for copper, gold, lead and notably nickel with stainless steel production rising sharply in Indonesia,” he said.
“Last financial year the resources sector contributed $1.3 billion to the North West economy, supported 7,700 full-time jobs and spent $345 million with local businesses and community organisations.”
Queensland Exploration Council (QEC) Chairman Brad John said it was proof yet again of the potential for further discoveries in the world standard North West Minerals Province.
“The area is still underexplored, however increasing demand for tech metals and application of new technologies and exploration models is opening up new opportunities in this traditional base metals province,” Mr John said.
“With rising metals prices and increasing investor interest, this new land release is very timely.”
The Queensland resources sector now provides one in every $6 dollars in the Queensland economy, sustains one in eight Queensland jobs, and supports more than 16,400 businesses across the State – with almost 7000 businesses in the Greater Brisbane region – all from 0.1 percent of Queensland’s land mass.