Maintaining Queensland’s attractiveness for explorers
The Queensland state government still believes there is life in the resources sector yet – and many analysts agree.
The resources boom of recent years has had a major impact not only on the Queensland economy but the country as a whole, bringing large numbers of workers to the state and making it the envy of the rest of the world.
Not only this, Queensland rental property has been in high demand, as investors recognise the need for accommodation and tap into the growing market.
Looking to the future, the state government believes the way forward will be to make exploration and mining simpler, ensuring the sector continues to deliver for many years to come.
Cutting red tape
One area the Newman government is hoping to address is the regulatory barriers that mining companies face, which may encourage them to go elsewhere.
Natural resources and mines assistant minister Lisa France highlighted that improvements have already been made over the past 18 months – but the work does not stop there.
She commented: "Our new streamlined process for exploration permits is just one example of a simple policy change that will make a dramatic difference to the critical first steps of exploration.
"This process has the potential to halve the time taken for companies to be granted exploration permits, while maintaining environment, native title and land access assessments."
This has the potential to bring more mining companies to resource-rich parts of the state, including the likes of Gladstone and the Bowen Basin where exploration is already underway.
Mining companies like to establish themselves in areas they know are going to be able to support growth – if there is no prospect of their workers being housed, or infrastructure living up to the challenge, the chances are they will go elsewhere.
So far, a total of $30 million has been invested to ensure the state remains attractive to resources investment.
This includes co-fund drilling projects and programs that assess mineral potential throughout the region.
A recent report from the Queensland Resources Council identified the need for the resources sector to diversify, as this would help encourage further investment and ensure the industry is able to survive.
Thankfully, this is something the government seems to have taken on board, leading to changes to be made to an already thriving part of the economy.
Investing in mining communities
As stated, there are some parts of Queensland that have really benefited from the resources boom – and will continue to do so in the future.
The likes of the Surat Basin have seen significant investment over recent months, attracting people in search of employment – and ultimately those looking for a property investment.