State Development Minister, Dr Anthony Lynham has officially released the North West Minerals Province Blueprint to stimulate exploration investment and identify new job-creating projects.
“The blueprint represents the combined efforts of government, industry and business stakeholders from across North West Queensland to facilitate a strong and prosperous future for this important region,” said Dr Lynham.
According to the news release, in a sign of confidence in the province’s prospectivity, one of the world’s biggest zinc players will seek out new prospects after winning exploration rights to land near Cloncurry. Further, a tender to explore 102km2 near Cloncurry had gone to Teck Australia, a wholly-owned subsidiary of Teck, one of the world’s biggest producers of base metals as well as specialty metals such as germanium, indium and cadmium.
“This all helps secure the next generation of resource development in the State’s north-west,” Dr Lynham said.
The Queensland Government further develops the North West’s potential with the strategic blueprint designed to build on existing measures, including the Resources Development (Royalties) Policy and its incentives for major resources projects in the Galilee and Surat Basins as well as in the North West Minerals Province.
The blueprint has a range of actions that aim to facilitate continued resource sector development, diversify the economy and create employment opportunities in other areas, like tourism, and engage the community in in building the future.
More than $30 million worth of measures to support the resources sector include large-scale geological surveys to identify new commercial deposits; a four-year exploration program to support exploration in greenfield and high-risk areas; more international promotion to investors including an annual investor forum in Townsville; and red-tape reduction for explorers, including a hands-on team to help smaller miners get their projects over the investment line.
“The blueprint implementation team would be set up in Mount Isa to coordinate effort, including running a North West Futures Forum later this year to bring experts and locals together to implement the blueprint,” Dr Lynham explained.