Brisbane 19 June 2013. The resource sector has today been encouraged to identify priority projects to be funded by significant Newman Government expenditure on mineral, gas and petroleum exploration.

Minister for Natural Resources, Andrew Cripps told the annual Queensland Exploration Council (QEC) breakfast in Brisbane this morning that industry itself would determine where almost a quarter of the recently announced $30 million exploration support package would be directed.

“This package is one of the largest single investments ever made by a state government into mineral and petroleum and gas exploration programs,” Mr Cripps said.

“The geological mapping and survey work this money will fund now, underpins the mines and resource sector jobs of tomorrow.

“We will be asking groups such as the QEC to work with government body the Geological Survey of Queensland (GSQ) to set research priorities for almost $7 million of the total $30 million program.”

Mr Cripps said the GSQ played a vital role in attracting exploration and resource investment by providing industry with key geo-scientific and resource data and information.

“GSQ has already begun a conversation with industry to ensure this valuable work and the information it collects is as targeted and industry-focused as it can be.”

GSQ initiatives to be funded over the next three years include:

·         Industry Priorities - Industry will be consulted through the Queensland Exploration Council, the Queensland Resources Council, the Association of Mining and Exploration Companies and the Australian Petroleum Production and Exploration Association to identify priority geoscience projects which will have the greatest contribution to maximising exploration success

·         Mount Isa Geophysics – seismic and crustal conductivity surveys in the Cloncurry, Julia Creek and Dajarra-Boulia areas aimed at stimulating greenfields exploration in one of the most prospective regions of the world

·         Collaborative Drilling Grants – Extend the program promoting exploration success by co-funding drilling by innovative explorers targeting high value deposits under shallow cover

·         Cape York Mineral Resource Assessment - Geological mapping and sampling to re-evaluate emerging strategic mineral potential (such as rare earths) of the region

·         Geochemical Data Extraction – Extracting invaluable geochemical data locked in DNRM’s company report archive and providing easy searchable access to industry, government and the public

·         Extension of Core Library – Expand Queensland’s capacity to store and preserve economically and scientifically valuable core samples acquired from company and government drilling to ensure this resource of subsurface knowledge is not lost to the State and the exploration industry

·         Seismic Section Scanning – Undertake a program to preserve the rapidly decaying archive of hard-copy format company seismic sections by converting them to digital formats. These sections represent an invaluable record of Queensland’s subsurface basins, and re-surveying would be cost-prohibitive in today’s economic climate.

Mr Cripps said this funding initiative, in conjunction with recent releases of new exploration land and ongoing efforts to streamline the assessment process for projects, demonstrated the Newman Government’s commitment to growing the resource pillar of the Queensland economy.

“Since our election, this government has demonstrated a real willingness to create a legislative and business environment that fosters resource sector growth.

“Exploration dollars spent now, will create the mines, jobs and economic growth of the future.”