Proposals are being considered to increase exploration for the critical minerals required by Queensland and the rest of the globe to decarbonise.
Resources Minister Scott Stewart released a discussion paper on reforming the way critical mineral exploration is conducted, including speeding up approvals.
“Queensland has vast reserves of the critical minerals we need to implement our Energy and Jobs Plan, reducing emissions and creating good jobs. The world needs those minerals too, but we need to drive exploration, discovery and development of those deposits to snare the opportunities and jobs available,” Minister Stewart said.
Minister Stewart stated that the proposals now on the table seek comments to improve exploration’s effectiveness, efficiency, and affordability.
In its 30-year strategy for the resources industry, the Queensland Government pledged earlier this year to improve how it releases land for exploration and simplify the procedure for applicants to acquire access to that area.
One of the primary recommendations in the study is to apply existing coal, oil, and gas arrangements to critical minerals.
Currently, the Department of Resources identifies probable coal, oil, and gas sites and puts them up for competitive bidding.
Minister Stewart stated that tendering highly potential areas benefited both explorers and the owners of those resources – Queenslanders.
“Identifying areas with good prospects removes some of the risks for explorers because the existing science tells us that it’s likely deposits could lie in those areas,” Minister Stewart said.
According to the Minister, a competitive tender process guarantees that the business best suited to explore and develop the location is picked.
The paper also proposes:
- Accelerating the entire tender process, which can currently take up to five and a half months from seeking to awarding tenders; and
- Land releases should be timed to coincide with the industry’s regular peaks and troughs of activity throughout the year so that enterprises can be on the ground immediately when the government wins tenders.
“Having a consistent, indicative schedule of releases will also help industry plan ahead and provide more information for communities and Traditional Owners in areas to be explored,” Minister Stewart said.
