State targets ‘new economy’ minerals
In Mount Isa this week, Premier Annastacia Palaszczuk said the five-year package aimed to encourage new exploration, re-investigate old mines and probe geological information stores.
“Global demand is set to soar for cobalt and rare earth minerals needed for wind turbines, generators and batteries and copper needed for electric cars and the North is rich in these new economy mineral,” Ms Palaszczuk said.
Queensland Resources Council chief executive Ian Macfarlane said the package was based on consultation with the industry and would hit the right mark at the right time.
“Queensland has globally-significant reserves of copper, nickel, zinc, graphite, and molybdenum and major deposits of cobalt, rhenium, scandium, tantalum, niobium, lithium, rare earths and vanadium,” he said.
He was speaking from Washington DC , where he is part of a delegation led by Federal Resources Minister Matt Canavan to further develop the US-Australia trading partnership on critical minerals.
The package announced today comprises:
“The findings from our own surveys and studies will encourage further exploration and the eventual future development of new mining projects in Queensland,” Dr Lynham said.
“This is a practical way to help industry to explore Queensland further, and for new minerals, focusing on a massive corridor reaching from the west of Mount Isa to Townsville.”
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