Queensland’s explorers have another six months rent-free to keep them on the hunt for the next round of resources projects and jobs.
Minister for Natural Resources, Mines and Energy, the Hon. Dr Anthony Lynham, revealed that the State Government will be extending an existing COVID break on land rent to 31 March next year.
“Queensland’s economic strategy for recovery is built on our traditional strengths like resources,” he said.
“Over the past five years, $21 billion has been invested in or committed to resources projects creating 8,000 jobs.”
“Supporting exploration now is fundamental to the survival and revival of our explorers and maintaining ongoing resources investment and jobs into the future.”
The first rent waiver announced in May 2020 saved exploration companies around $6 million, and the extension is expected to save them a further $6.6 million.
It comes on top of a multi-million-dollar package released in May that also:
- Froze fees and charges until 1 July 2021;
- Released almost 7,000 square kilometres of land for gas and mineral exploration; and
- Brought forward $2.8 million in grant funds for innovative exploration in the North West Minerals Province.
Dr Lynham said the rent relief, along with an extra $10 million over four years in exploration grants, would feed Queensland’s strong pipeline of exploration projects.
“This support is to help explorers discover new economy minerals and support future jobs in Queensland’s resources sector,” he said.
“The latest round of our collaborative exploration grant program released in July provided grants of up to $200,000 each to 25 exploration companies working in the northwest and northeast minerals provinces, southwest Queensland, and Wide Bay Burnett region.”
“Exploration is essential for the post-COVID recovery for Queensland and help us to keep up with the soaring global demand for critical minerals,” Dr Lynham commented.