Critical Minerals, Manufacturing News, Queensland, Renewable Energy

Queensland Government invests $4.6m to drive critical mineral discoveries

Queensland-based companies have received funding to conduct exploration activities across the state in search of new critical mineral deposits, which are essential for clean energy resources.

The funding has been given to projects prioritising the discovery of critical minerals which are needed to help make the solar panels, turbines, batteries and other technologies the world needs to decarbonise.

Resources and critical minerals minister Scott Stewart said, “Queensland companies are on the hunt for minerals that will power tomorrow’s world.”

The latest Collaborative Exploration Initiative (CEI) round provides funding of up to $300,000 to 18 projects across regional Queensland including near Chillagoe, Cloncurry, Mount Isa and Townsville.

The Queensland state government claim nearly three quarters of all successful projects are involved in the discovery of new copper deposits, an essential resource for many types of clean energy.

“You can’t have a renewable energy without a resources sector, and you can’t have a healthy resources sector without exploration,” said Stewart.

“You can’t have a renewable energy without a resources sector, and you can’t have a healthy resources sector without exploration.”

The Queensland State Government has committed to $22.6 million over five years to the CEI program under the Queensland Resources Industry Development Plan to support
Queensland’s exploration companies fast-track our state’s critical mineral discoveries.

True North Copper’s managing director, Marty Costello said, “The Collaborate Exploration Initiative facilitates Queensland companies like True North Copper to harness cutting-edge science to achieve real-world critical minerals exploration outcomes.”

The CEI program compliments Queensland Critical Minerals Strategy which oversees $245 million in investment to transform the state, national and global economy through the responsible use of Queensland’s critical minerals.

Program data will be made public to help encourage more critical mineral discoveries in Queensland.

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