QEC Exploration Scorecard

Posted 21 October, 2026
Publications

16th annual edition

2026 Queensland Exploration Scorecard

Confidence is improving. Exploration remains under pressure.

Tracking the performance, confidence and competitiveness of Queensland’s exploration sector, and the conditions shaping future investment, discovery and resources projects.

View full Scorecard

View At a Glance

2026 Queensland Exploration Scorecard

A stronger outlook across the sector

Now in its 16th year, the Queensland Exploration Scorecard combines industry sentiment with exploration activity and long-term trend data to track the factors influencing investment, discovery and project development. In 2025-26, confidence strengthened across several important measures, but the improvement has not yet translated into a broad-based recovery in minerals, coal or greenfield exploration.

12 of 18

sentiment categories improved year-on-year

39th → 13th

global investment attractiveness ranking

A$900.3m

total exploration expenditure, up 13.7%

24%

of minerals and coal spending directed to greenfield exploration

How Queensland is tracking

Confidence strengthened across much of the sector

Sentiment improved across 12 of the 18 categories measured in 2025-26. The strongest gains were in access to investment capital, resource prospectivity, the exploration permit process and departmental and government assistance.

Resource prospectivity reached its strongest positive result in the Scorecard’s 16 year history, reinforcing Queensland’s geology as one of the State’s greatest competitive advantages.

Strongest year-on-year gains

Access to capital
+24

Resource prospectivity
+19

Exploration permit process
+17

Departmental / Government assistance
+16

A more positive outlook, but pressure remains

Confidence has improved. Exploration activity has not.

Queensland exploration expenditure increased 13.7% to A$900.3 million in 2025-26, but the growth was driven overwhelmingly by petroleum. Petroleum exploration rose 52% to A$434.4 million, while coal exploration fell 11.5% and minerals exploration fell 6.6%.

Petroleum

+52%

A$434.4m, highest level in a decade

Coal

−11.5%

exploration expenditure

Minerals

−6.6%

exploration expenditure

The top barriers to exploration

Potential needs a pathway

Despite stronger confidence in several areas, average sentiment remains negative. Respondents identified these as the leading barriers affecting exploration activity.

Commonwealth policy uncertainty

Environmental regulation

Inflationary costs

State policy uncertainty

70%

of respondents were concerned that similar tiered royalty changes could affect their sector.

−11

points for sentiment towards royalty and tax rates, the largest year-on-year deterioration.

Why exploration matters

Exploration is the foundation

Exploration is the essential first step in building future resources projects, regional employment, exports and government revenues.

Queensland has world-class resources and established industry capability, but geological potential only becomes economic opportunity when taxation, regulation and approval settings support the long-term investment needed to turn discoveries into projects.

Explore the findings