A package of measures supporting the survival and revival of Queensland’s explorers so they can maintain the State’s pipeline of resources projects and jobs, has been announced.
Minister for Mines, Anthony Lynham said the package waived rents, froze fees, relaxed requirements and made more land and funds available to stimulate exploration.
“A strong pipeline of exploration is critical to our future mineral and gas projects, to future jobs and to future business opportunities for Queensland companies,” Dr Lynham said.
“We have to ensure the survival of our explorers, many of them small-to-medium businesses, until the current situation improves and the economy recovers.”
He said the Government was easing explorers’ financial pressures, and also stimulating activity by making land and Government funds available for exploration.
“The resources sector has weathered the COVID-19 storm better than most, but many enterprises have had to put exploration activities on hold as a non-essential activity to reduce risks to their workforce and local communities,” Dr Lyneham said.
“As well, many junior companies are having difficulty raising essential capital to meet exploration and holding costs, so our package will ensure exploration continues to identify the next wave of resources projects and jobs.”
He said explorers could apply for grants of up to $200,000 for new and innovative exploration activities.
Dr Lynham said the stimulus would provide exploration companies with the opportunity to develop bids at their desks while they waited for the economy to recover.
