The Queensland Government has launched the latest round of its Collaborative Exploration Initiative (CEI), prioritising explorations on critical minerals needed for renewable technologies.
The CEI program builds on the Queensland Critical Minerals Strategy, which has reduced rent for new and current mineral exploration permits to zero for the next five years, saving $55 million.
It also expands on the Palaszczuk Government’s $5 billion Copperstring 2032 project, which can potentially unleash $500 billion in critical mineral developments in the North West Minerals Province.
Minister for Resources Scott Stewart noted that the Australian Bureau of Statistics reports a 4.4% increase in overall exploration to $770.6 million at the end of June, with a 16.7% increase in exploration for copper deposits, highlighting exploration’s vital role in the resources industry.
“We know the mineral exploration projects being done today have the potential to be our mining projects of the future which is why these grants are so important,” Minister Stewart said.
“Queensland has significant resources of the critical minerals the world needs to decarbonise and through these grants, we are helping back companies to find those deposits,” he added.
Applications are now open, with $4.6 million in grants available through the program.
