Race is on to unearth Queensland’s undiscovered resources wealth

  • Posted 21 April, 2021
  • Media Releases

21 April 2021

What lies beneath is about to become a whole lot clearer in Queensland following today’s launch by Resources Minister Scott Stewart of the state’s fifth consecutive round of funding to support exploration.

Queensland Exploration Council Chair Kim Wainwright said competition for funding through the State Government’s Collaborative Exploration Initiative (CEI) was expected to be strong, based on the response to previous rounds.

“These highly sought-after grants play a critical role in helping to get explorers onto the ground and we warmly welcome today’s announcement by the State Government of $2.5 million in funding for this CEI round,” she said.

“So far, the CEI has provided $10 million worth of funding to more than 190 explorers over the past 14 years.

“Explorers take on a lot of risk many traditional businesses shy away from, but their commitment and passion to uncover new resources contributes to the overall wealth of all Queenslanders.”

Ms Wainwright said Queensland’s CEI had already led to more than 50 significant mineral deposit discoveries over the past 14 years in under-explored areas of Queensland, amongst them significant silver, lead and zinc deposits as large as South 32’s Cannington mine.

“Funding received through a previous CEI round also contributed to Australia’s largest discovery of a copper-cobalt resource by Aeon Metals,” she said.

“Another great example is the $200,000 in funding awarded to Red Metal to use  magnetotelluric survey equipment to undertake detailed mapping of known zinc, lead and silver deposits in and around the old Century Mine near Lawn Hill.”

Ms Wainwright said new mineral discoveries will lead to more jobs for Queenslanders and billions of dollars in royalties going into the state budget.

She said Queensland has vast potential to provide the critical minerals and rare earths needed to manufacture everyday items like smart phones and renewable energy products such as wind turbines, electric cars, solar panels and batteries.

“Queensland has critical minerals the world needs to produce the infrastructure required for renewable energy as we transition to a low-emissions future,” she said.