Tri-Star, one of the pioneers of Queensland’s $80 billion CSG-LNG industry, is actively exploring gold and copper at Ravenswood and Einasleigh in North Queensland.
According to the Queensland Government, Tri-Star’s activities in North Queensland could lead to more good jobs in the region.
Resources Minister Scott Stewart joined Tri-Star’s Country Manager Andrew Hackwood and his team at Tri-Star’s Spider Gully project, where the company has begun diamond drilling and extensive detailed geophysical programs.
“Tri-Star is one of many companies exploring Queensland for minerals, particularly critical minerals like copper. Interest in minerals exploration in Queensland is en route to an all-time high. Applications for mineral exploration permits have been climbing steadily for the past couple of years,” Minister Stewart said.
According to the State Government, the latest ABS statistics showed Queensland saw an all-time high of $334 million in investment in mineral exploration in 2021-2022, up 44 per cent from the previous year.
“Exploration is what underpins our resources sector and it’s what helps drive good, secure jobs for Queenslanders,” Minister Stewart stated.
Although gas discovery had been Tri-Star’s primary business for over 40 years, Tri-Star Country Manager Andrew Hackwood said the company had diversified into minerals exploration given the dynamic evolution of the energy markets and the wealth of opportunities North Queensland provided to explore prospective acreage for new economy minerals.
“With significant capital, geological expertise and access to cutting-edge exploration technology, we have the ideal capability to give us every possible chance of success. However, just as important are the relationships we have with local communities, creating jobs, supporting events, and employing highly-skilled local contractors like family-owned business Eagle Drilling for this project,” Hackwood stated.
According to Minister Stewart, Tri-Star’s decision to enter the minerals market is consistent with the State Government’s 30-year plan for the State’s resource industry.
“Our Queensland Resources Industry Development Plan has identified diversification as critical to the industry’s future as the world decarbonises. When the world inevitably moves to renewable energy sources, away from coal and gas, Queensland’s new economy mineral resources will continue to provide good, secure jobs,” Minister Stewart added.
Tri-Star also holds mineral exploration assets in South Australia and the Northern Territory.
