PERTH (miningweekly.com) – A A$500 000 desktop study has unearthed almost 600 potential deposits of new economy minerals across Queensland, including six possible rare earth systems.
Resources Minister Scott Stewart said the joint project with the University of Queensland’s Sustainable Minerals Institute was also creating a free digital tool for explorers to identify new priority areas for new economy minerals like cobalt needed for renewable and advanced technology.
“Unearthing potential new deposits could mean new projects which means new jobs which is an important part of the government’s economic recovery plan from Covid-19,” Stewart said.
“Queensland is rich in new economy minerals, but there’s a lot of time, effort and money that goes into exploration and proving-up resources before new projects and jobs ever result
“The government’s A$23-million New Economy Minerals Initiative is simplifying and supporting this initial legwork to help get more projects and jobs off the ground.”
The Department of Resources and University of Queensland’s Sustainable Minerals Institute have been working together for 18 months compiling, analysing and pulling together data for the free digital tool.
When it’s completed, explorers will be able to tap in to find out more about where minerals like tin, tungsten, silica, rare earths and cobalt could be discovered.
Recent data by the Australian Bureau of Statistics has shown that exploration investment in Queensland was on the rise, and that in the 12 months to June, more than A$706-million was invested in exploration in Queensland, seeking that next wave of projects and resources jobs.
“That’s 10% up on the previous year and an even more impressive 60% up on the same period three years ago,” Stewart said.
“These figures show the government’s effort and investment in boosting exploration is paying dividends.”