Jun 20, 2018

Government releases further exploration ground

Government releases further exploration ground

The Queensland Government has earmarked more than 44,000sq km of land for coal, oil and gas exploration to spark new resource projects.

Natural Resources, Mines and Energy Minister Dr Anthony Lynham said it was the largest amount of land released under the State’s exploration program and showed the government’s commitment to creating a stronger economy by encouraging private sector investment and the jobs that follow.

“Queensland’s resources industry is currently worth close to $60 billion and this land release supports the building of the next pipeline of resource projects,” Dr Lynham said.

Dr Lynham said the Palaszczuk Government was offering 43,250sq km across 29 areas for investors looking to invest in petroleum and gas exploration and 1140sq km across 10 areas of land for coal exploration.

“Nine of these areas are in the Bowen Basin, which contains almost all of the state’s metallurgical coal reserves,” he said.

“Metallurgical coal is critical to building our renewables future as it is one of the key elements for making the materials for our wind turbines, solar farms and electric cars.

“This is land which has proven reserves and is supported by existing pipeline and transport infrastructure.

“Looking forward there is high level of confidence in the Queensland resources sector with 13 projects committed at a combined capital value exceeding $9.4 billion, across multiple commodities (metalliferous, coal, and gas).

“A further 42 projects are at the feasibility stage, with a combined capital value exceeding $61 billion, across multiple commodities.”

 

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