QRCUF is the first of its kind for Australia and will accelerate the development of critical mineral commercial mining projects, promote investment in advanced mineral manufacturing opportunities
Queensland unveils Critical Mineral Strategy. (Credit: Анатолий Стафичук from Pixabay)
The Premier Annastacia Palaszczuk unveiled the Queensland Critical Mineral Strategy at the World Mining Congress in Brisbane today.
The new strategy positions Queensland as a global leader in delivering the critical minerals the world needs to move to a net-zero emissions future.
The Strategy will oversee a $245 million investment into growing Queensland’s critical mineral sector, it will:
Reduce rent for new and existing exploration permits for minerals to $0 for the next five years, worth $55 million.
Establishing critical mineral zones, initially at Julia Creek/Richmond and around Mount Isa, with $75 million to support investment and renewed focus in advancing critical minerals projects.
Establish Critical Minerals Queensland, a one-stop office to oversee the development of the sector and help drive and attract international investment.
Invest $5 million to target mining waste and tailings for critical minerals, and $8 million towards scientific research including circular economy initiatives
Provide $1 million to foster research and ESG excellence
Deliver the $100 million Critical Minerals and Battery Technology Fund to support new investments in projects
Quotes attributable to the Premier Annastacia Palaszczuk:
“In Queensland we have some of the world’s richest mineral-producing areas, which in North Queensland alone is estimated to be worth $500 billion dollars.
“This is why our government is investing $5 billion to build CopperString 2032, to connect the North West Minerals Province, with the largest renewable energy zone on the east coast of Australia to mine and process critical minerals with renewable energy.
“The Queensland Critical Mineral Strategy is about growing this industry by not just mining the raw materials but also being able to process it and manufacturing renewables right here in Queensland.
“I want Queensland to be a global leader, supplier and manufacturer of critical minerals and this strategy will help us achieve that.”
Quotes attributable to the Resources Minister Scott Stewart:
“Queensland has vast reserves of critical minerals, such as copper, zinc, vanadium and cobalt, that the world is demanding to produce batteries and renewable energy as part of their plans to decarbonise,” he said.
“The Queensland Critical Minerals Strategy is about acting now to position Queensland as a global leader in this new industrial revolution.
“If we do not manufacture our future, someone else will, leaving Queensland to remain a low-end supplier of minerals and nothing more.”
Source: Company Press Release