Photo by: Bloomberg
PERTH (miningweekly.com) – The Queensland government has extended its Covid rent break for explorers by another six months, allowing the hunt for resources to continue in the state unabated.
Mines Minister Dr Anthony Lynham said the government was extended an existing Covid break on land rent to March 31 next year.
“Queensland’s economic strategy for recovery is built on our traditional strengths like resources. Over the past five years, A$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 saved exploration companies around A$6-million, and the extension will save them a further A$6.6-million.
The rent waiver was in addition to a multimillion-dollar package which also saw fees and charges freeze until July 2021, the release of some 7 000 km2 of land for gas and mineral exploration, and A$2.8-million in grant funds brought forward for innovative exploration in the North West minerals province.
Queensland Resources Council (QRC) CEO Ian Macfarlane said the extended relief would assist explorers continue their critical work making the new mineral and petroleum exploration to drive new projects, new investment and new jobs across Queensland.
“As the peak representative for coal, metal and gas explorers, producers and their suppliers, QRC has continued to champion measures, including land tax relief, to ensure the resources sector can play the strongest possible role in Queensland’s Covid-19 recovery,” Macfarlane said.
Lynham said the rent relief, along with an extra A$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 programme released in July provided grants of up to A$200 000 each to 25 exploration companies working in the north-west and north-east minerals provinces, south-west Queensland, and Wide Bay Burnett region.”
“Exploration is essential for the post-Covid recovery for Queensland and to help us to keep up with the soaring global demand for critical minerals.”
Overall the Queensland government has committed A$8-billion towards Queensland’s economic recovery plan.