Resources explorers seek certainty to unlock industry potential

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Click here to read QEC 2024 Scorecard

Queensland’s exploration sector is set to unlock significant new opportunities and generate further economic gains for our state if governments can provide policy certainty.

The exploration arm of Queensland Resources Council (QRC), the Queensland Exploration Council (QEC), has released its 2024 Exploration Scorecard, outlining the opportunities and challenges facing the industry.

QRC Chief Executive Officer Janette Hewson said exploration is key to the future success of Queensland’s resources sector.

“The 14th edition of the QEC Scorecard provides an important barometer of exploration in Queensland and there is a lot to be positive about,” Ms Hewson said.

“Queensland has world leading expertise, data and technology underpinning our sector that can unearth reserves of the coal, gas, metals and critical minerals the world demands.

“These are the commodities that are needed to meet current energy and infrastructure needs, and for the technology of the future to reach global decarbonisation targets.

“While there is strong positive industry sentiment about the significant potential for explorers, policy uncertainty, regulatory changes and rising costs are impacting investor confidence.”

QEC Chair Kim Wainwright said the Scorecard highlights the need for a clear and certain pathway to production to attract and sustain investment in exploration.

“Queensland’s extensive resource base and skilled workforce position us well for future growth, but we must address the policy and regulatory challenges to unlock its potential,” Ms Wainwright said.

“The QEC Scorecard is a call to action for all stakeholders to ensure Queensland remains an attractive destination for exploration investment.”

Ms Hewson said the QEC Scorecard highlights trends that should inform long-term decision-making and policy settings to position Queensland as a resources growth state.

“Industry looks forward to working collaboratively with the new Queensland Government,” Ms Hewson said.

“QRC is encouraged by government commitments to attract new investment and streamline project approvals, which are both critical to maintaining a strong resources sector in Queensland.”

Media Contact: Jana Dore – [email protected]