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PERTH (miningweekly.com) – The Queensland state government on Tuesday released a report by the Ministerial Advisory Committee on Exploration, aimed at growing the resources sector in the region.
The report made 18 recommendations, across nine areas, including making land available for exploration, delivering world-class geoscience, growing and expanding greenfield incentives, improving customer service and promoting Queensland as an exploration destination.
“There were also strong messages to cut exploration costs by streamlining exploration permit regulations and examining further opportunities to minimise costs to industry and I’m pleased to say the government has already acted on some of the committee’s advice,” Natural Resources and Mines Minister Andrew Cripps stated.
The Minister established the Ministerial Advisory Committee on Exploration in October 2013 and its report built upon the work the Newman government was doing to reform the resources sector, reduce red tape and make Queensland more attractive for exploration investment.
Queensland, as measured by the Fraser Institute of Canada’s yearly mining survey, is ranked the fourth-most attractive mining destination in Australia after Western Australia, South Australia and the Northern Territory. In terms of its mining policy attractiveness, Queensland ranked 24 out of 112 jurisdictions surveyed.
“Queensland’s resources sector laws are currently being modernised and simplified and we have already delivered changes to the Petroleum and Gas (Production and Safety) Act 2004 to extend exploration work programmes and provide more flexible tenure relinquishment arrangements,” Cripps said.
The Association of Mining and Exploration Companies on Tuesday expressed its support for the report, with CEO Simon Bennison saying that the region had an opportunity to promote itself as a destination for exploration investment.
“By showing support for the exploration sector, the Queensland government is investing in a strong and prosperous future for the state’s mining sector. This will provide jobs and investment, and government revenue streams for the benefit of all Queenslanders.”
Bennison said that it was not only vital that the regulatory system be world class, but that the Queensland government heed the advice of the committee and remove the financial and administrative barriers to exploring in Queensland.