A joint exploration project between the Department of Resources and the University of Queensland has unearthed around 600 possible deposits of new economy minerals across the State.
Minister for Resources, Scott Stewart said among the finds were six possible rare earth systems, an essential element in many technologies.
“Unearthing potential new deposits could mean new projects, which means new jobs,” Mr Stewart said.
“Queensland is rich in new economy minerals, but there’s a lot of time, effort and money that goes into exploration and proving-up resources before new projects ever result,” he said.
Mr Stewart said the Department had been working with the University of Queensland’s Sustainable Minerals Institute for 18 months compiling, analysing and pulling together data.
“When it’s completed, explorers will be able to tap in to find out more about where minerals like tin, tungsten, silica, rare earths and cobalt could be discovered,” he said.
The Minister said this latest incentive for explorers came as new Australian Bureau of Statistics figures showed exploration investment was on the rise in Queensland.
In the 12 months to 30 June, more than $706 million was invested in exploration in the State.
“That’s 10 per cent up on the previous year and an even more impressive 60 per cent up on the same period three years ago,” Mr Stewart said.
“These figures show the Government’s effort and investment in boosting exploration is paying dividends,” he said.
