THE number of bids for Queensland exploration grants has more than doubled the previous round.

The $2.8m grant round was brought forward as part of the Queensland Government’s multi-million-dollar COVID-19 package to support and revive State exploration.

Figures from the Australian Bureau of Statistics also show exploration investment for the year to the end of March was up more than 30pc on the previous year.

Queensland mines minister Dr Anthony Lynham said applications were currently being assessed for the latest round of exploration grants.

“It’s clear that explorers were looking for stimulus to get through the COVID-19 storm,” he said.

“The Government’s exploration stimulus package is going to help keep the pipeline of future resources projects and jobs flowing as Queensland recovers.”

 

The grant offers explorers up to $200,000 to encourage exploration across the State, including the North West Minerals Province, home to new economy minerals like silica, titanium, lithium and vanadium.

The Queensland Government’s resources relief package also includes a 12 month rent waiver on exploration land due between 1 April and 1 September, a freeze on fees and charges until 1 July 2021 and the release of almost 7000 square km of land for gas and mineral exploration.

Advertisement