AMEC ready to work with new resources industry plan

The Association of Mining and Exploration Companies (AMEC) says it strongly supports the vision of the Queensland Resources Industry Development Plan (QRIDP) released this week by Resources Minister Scott Stewart. While AMEC welcomed the QRIDP as a positive plan for the future of the state's resource industry, it said this had been permanently undermined by this week’s massive royalty hike on coal, negatively altering the investment attractiveness for all of Queensland’s resources projects. “Investment certainty is critical for resources investment in Queensland, and the Queensland Government must urgently reconsider is decision to gouge industry on coal royalties,” chief executive officer Warren Pearce said. AMEC chief executive officer Warren Pearce. “That aside, AMEC will continue to work positively with government in the implementation of the QRIDP through the new Ministerial Queensland Resources Industry Development Plan Advisory Group, and we are confident that the spirit of collaboration seen in the plan’s development will be continued by all agencies and stakeholders. “AMEC will continue to work closely with the Department of Resources to ensure AMEC members needs are considered in the plan’s implementation.” Key initiatives in the QRIDP that AMEC advocated for successfully and included in the plan are: - Rent deferral for the first year’s rent for new economy mineral mining leases that meet certain criteria. - A new economy mineral regulatory process to help ensure a streamlined approach for these projects, the intention being to ensure regulatory assessment is fit-for-purpose, which is critical to accelerate new project development. - Delivery of the $10 million common user infrastructure mineral processing demonstration facility, the first mineral to use the facility being vanadium. Mr Pearce said also AMEC welcomed the $68.5 million resources package announced in this week's Budget, much of which will support development of the new economy mineral industry. Financial commitments released in the 2022-23 State Budget on Tuesday that are linked to the QRIDP include: $22.6 million over five years for the Collaborative Exploration Initiative, $10 million over two years for Geophysics for Discovery, $5 million over two years for Better Defining our New Economy Mineral Potential, and $5 million over two years for Circular Economy in Mining. There is $5.7 million for the Resource Centre of Excellence to create a Future Industries Delivery Hub, $5 million for the development of a Queensland Battery Industry Strategy, $3.3 million to support Queensland’s resource sector workers to grow their skills. More than $4.9 million was committed to support regulatory efficiency improvements; most of which will be invested in a Queensland Law Reform Commission, and $1.59 million into assessment and approval improvements. Read the QRIDP | Queensland Resources Industry Development Plan here

AMEC ready to work with new resources industry plan

Industry Queensland

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