PERTH (miningweekly.com) – The Queensland Resources Council (QRC) has welcomed the state government’s economic diversification strategy for the North West region, which is aimed at attracting investment into the resources, agriculture and tourism industries.

State Development Minister Cameron Dick on Tuesday said that the strategy was the result of extensive collaboration and consultation with regional stakeholders and community and would be backed by an implementation plan to quickly deliver outcomes.

“Key supply chain and value-adding industries in Townsville and surrounding regions are of strategic importance to the North West Minerals Province,” Dick said.

“Mineral resources will remain the region’s primary industry but to counter commodity cycle impacts, as well as severe weather events, the strategy outlines new ways to enhance the investment environment, boost supply chains and sustain thriving communities.

“The North West is home to many of the metals needed for electric and hybrid vehicles, lithium batteries, wind turbine generators and solar panels.

“The Queensland government is committed to creating regional jobs, increasing private sector investment and engaging more young Queenslanders in education, training or work.”

Dick said feedback on the draft strategy confirmed that local government, industry and residents were keen to see new projects rolled out as soon as possible.

The state government announced funding for a number of energy, agriculture and tourism projects that would lay the groundwork for a diversified economy of optimism and opportunity, including a A$1.68-million investment towards energy supply and transmission projects, A$600 000 into catalytic projects including fodder production and ongoing irrigated cropping trials, and A$150 000 for tourism projects, including planning and design work to expand and upgrade the marine fossil museum.

QRC CEO Ian Macfarlane said the resources sector would continue to be the main economic driver of the region, but all sectors would benefit through a plan to grow the region and encourage more investment.

“North West Queensland is a resources heartland. The resources sector supports almost 10 000 jobs and makes up A$1.7-billion, or more than a third, of the region’s economy.

“It is already delivering for our state and it is also one of the most prospective regions of Queensland for new exploration, new investment and new jobs.”

Macfarlane said that the North West Minerals Province is rich in potential for critical minerals that are the building blocks of just about every part of our lives, including rare earths.

“The Geological Survey of Queensland has an estimated A$40-billion dollars of geological information and explorers are combing through these rock libraries for clues to where the next deposit of new energy minerals might be found.

“Queensland has a world class reputation in metallurgy and minerals processing, which stands us in good stead for refining and recovering these new energy minerals.

“They will also be in growing demand on global markets, so it is important that Queensland seizes the opportunities for ongoing resources investment in the North West.”