The Queensland Government has reserved more than 44,000 square kilometres of land for exploration to unlock the next round of resource projects.
Minister for Natural Resources, Mines and Energy Dr Anthony Lynham said it was the largest amount of land released under the state’s exploration programs 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.
He said the interest from international investors demonstrates Queensland has the right policy settings and investment climate to further bolster the $441 million already being invested in exploration in Queensland.
Dr Lynham said the 43,250 km² area is on offer for investors looking to invest in petroleum and gas exploration.
“This is made up of 29 areas which is more than double the previous release to help ensure future energy security as we transition to a renewable energy future,” Dr Lynham said.
“For coal explorers we are releasing 10 areas covering 1140 km² of land in the Bowen and Eromanga basins.
“Nine of these areas are in the Bowen Basin, which contains almost all of the state’s metallurgical coal reserves.
“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,” Dr Lynham said.