EOI process welcomed for Queensland resources exploration
The Queensland Resources Council (QRC) welcomes the State Government’s announcement of an Expression of Interest (EOI) process as a positive move to encourage new investment in Queensland resources projects.
QRC Chief Executive Officer Janette Hewson says the decision follows recommendations on improved land access from both the QRC and its exploration arm, the Queensland Exploration Council (QEC).
“QRC welcomes the targeted EOI process as a positive step toward unlocking new exploration opportunities and restoring confidence in Queensland’s resources sector,” Ms Hewson said.
“The move will encourage existing producers and explorers to apply for nearby ground and aligns with QRC’s recommendation to reduce the regulatory burden on the resources industry to support project expansion.
“Opening up land next to existing coal and gas tenures will help provide opportunities for continued investment and the potential for extending the life of resources projects in Queensland and using existing infrastructure already in place,” Ms Hewson said.
“Queensland needs a strong pipeline of projects to capitalise on opportunities in the resources sector as global demand for our traditional and emerging commodities grows and to meet our domestic gas needs”.
QEC Chair, Kim Wainwright said it was encouraging to see the EOI process opened up to companies looking to develop known reserves across the state, including the North West Mineral Province.
“This decision opens up releases in underexplored regions and basins which is essential if Queensland is to uncover our vast reserves of minerals the world needs to build the technology of the future, including renewable energy,” Ms Wainwright said.
“Queensland has some of the richest vanadium deposits in the world and is a vital material in making batteries that can store large amounts of energy for a very long time.”
QRC will lodge a submission to the Government’s review of the land release process for the resources sector and looks forward to further recommendations to support exploration.
“QRC says it’s important that the Government commit to an annual land release schedule for coal and petroleum releases to provide certainty and planning confidence,” Ms Hewson said.
QRC’s most recent Economic Contribution Report revealed Queensland’s resources sector more than $120 billion to the state’s economy and supported 550,000 local jobs in 2024.