LNP develops mining policy highlighting critical minerals

Loosening the regulatory burden on junior miners is a priority policy area for the Liberal National Party in the lead up to the 2024 election. LNP Natural Resources and Mines representative Pat Weir has been doing the rounds of the state talking to mining representative bodies including Australasian Institute of Mining and Metallurgy in far north Queensland. Emerging issues raised by miners around the critical minerals included access to rare earths, land access generally and approvals, Mr Weir said. LNP Mines representative Pat Weir Rare earth minerals is a critical mineral group that occurs with uranium where there has been a ban on mining since the closure of the state’s only uranium mine, Mary Kathleen near Mount Isa, in the late 80s. Australia has around 23 percent of total uranium reserves according to the World Nuclear Association and produces around nine percent of world output. Values are increasing with highs in 2015 ($115AUD/kg U3O8) and 2021 ($122 AUD/kg U3O8). The federal government has continued with the three (uranium) mines policy introduced in the mid-80s. The Queensland ALP has maintained the no uranium mining policy, though the LNP did open up uranium exploration in the 2012-2015 term under then Premier, Campbell Newman. Related: Uranium mining in Queensland There would need to be consensus across the floor of the legislative assembly to get any progress Mr Weir said. “In that interim, not one exploration hole was drilled, because industry knew that it was at the whim of the ballot box,” said Mr Weir. “So the whole uranium and the whole nuclear debate is going to need a consensus by both sides of the House before it will go anywhere. “The Labor Party need to have a serious conversation with themselves. They're just saying 'no' to nuclear, 'no' to uranium. Until they come to a position of supporting it, the industry will go nowhere.” While they were not is a position yet to present detail on policy, Mr Weir said a review of the Environmental Protection and Other Legislation Amendment (EPOLA) Bill would be a priority. It was part of an effort to streamline the approval process he said. “The complexities around the regulatory system, their approvals, their leases, that's one of their big hurdles,” he said. “If you apply for a lease, getting it through that whole process.” “I talked to them just recently, only a couple of days ago, to throw their eyes over that EPOLA Bill, because I think it may make it more difficult for them again, because that's treating all resources with the one brush. “It makes it difficult for those smaller ones to comply. You've got to have, obviously, your regulatory standards, but some of those environmental approvals are very onerous for the smaller operators. It's anti-competitive.” Pic: The pit at Queensalnd's only uranium mine, Mary Kathleen, which was closed in the late 80s.

LNP develops mining policy highlighting critical minerals

Industry Queensland

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