Qld releases more exploration acreage

PERTH (miningweekly.com) – The Queensland government will release more than 19 000 km² of land for gas exploration as part of its annual exploration programme, Natural Resources and Mines Minister Dr Anthony Lynham said on Wednesday.

The gas generated from these exploration tenements will be used to power local manufacturing and generate liquefied natural gas (LNG) royalties, and to identify new-age minerals needed for the next technology and renewables boom.

“Knowing what’s under the ground through exploration gives Queensland a front row seat in delivering the next generation of projects, and the energy needs for the future,” Lynham said.

“With almost 18 000 km² petroleum and gas exploration, this is good news for the local manufacturing and electricity consumers as more gas supply means downward pressure on energy prices.”

The annual exploration programme sets out the programme of competitive tenders for the coming year and assists resource companies plan exploration programmes while giving landholders, traditional owners and local governments notice of potential resource activity in their area.

Lynham said two sets of competitive tenders would be called: for petroleum and gas and minerals in the current quarter and for coal in April to June 2018.

“Many of the petroleum and gas blocks are greenfield sites, and I encourage new and local players, as well as junior explorers to enter the Queensland market,” he said.

“The solution to gas shortages is more gas and Queensland continues to do the heavy lifting on supply and policy initiatives, like our pilot of land for the domestic market only.”

The north-west minerals blocks are between Mount Isa and Doomadgee and have potential for copper-gold and lead-zinc, as well as the rare earth elements that are used in advanced technologies from hybrid vehicle batteries to super-conducting magnets.

“Unlocking these areas now puts our state on the trajectory of long-term economic growth,” Lynham said.

“These new minerals include rare earths and lithium and we need these minerals to develop renewable energy technologies such as solar panels, wind turbines and batteries.”

Preferred tenderers must meet environmental, native title, and other approvals, as well as land access requirements before commencing on-ground exploration.