Premier unveils $245m critical minerals push

Premier Annastacia Palaszczuk has revealed plans to pump $245 million into initiatives to position Queensland as a global leader in critical minerals extraction and value-adding manufacturing streams. She unveiled the Queensland Critical Minerals Strategy at the World Mining Congress in Brisbane today. “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," she said. “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. Related: Australia must take lead on critical minerals, McDonald “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.” The strategy will oversee a $245 million investment into growing Queensland’s critical mineral sector by: - Reducing rent for new and existing exploration permits for minerals to $0 for the next five years, worth about $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. - Establishing Critical Minerals Queensland, a dedicated office to oversee the development of the sector and help drive and attract international investment. - Investing $5 million to explore remaining mineralisation in mining waste, and $8 million towards scientific research including circular economy initiatives. - Providing $1 million to foster ESG excellence - Delivering the $100 million Critical Minerals and Battery Technology Fund to support new investments in projects Queensland Resources Minister Scott Stewart. State Resources Minister Scott Stewart said the Queensland Critical Minerals Strategy was about acting now to position Queensland as a global leader in a new industrial revolution as the world decarbonised. Related: Funds on table to supercharge battery supply chain “If we do not manufacture our future, someone else will, leaving Queensland to remain a low-end supplier of minerals and nothing more,” he said. Mr Stewart said the strategy was in addition to the $68 million Queensland Resources Industry Development Plan and $75 million Queensland Resources Common User Facility (QRCUF) to be built in Townsville. 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, and support supply chain and supporting industry development. Image at top of page: Premier Annastacia Palaszczuk unveiled the Queensland Critical Minerals Strategy at the World Mining Congress in Brisbane today.

Premier unveils $245m critical minerals push

Industry Queensland

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