The state’s small miner peak industry group, the Queensland Exploration Council (QEC), is calling for ‘a clear and certain pathway to production’.
The QEC pointed to data showing a significant decline in the number of resources projects advancing through regulatory pipelines.
The 2024 QEC Exploration Scorecard highlighted ‘a critical juncture for the Queensland resources sector’ the group said.
Using 2013 as a reference, the report noted tonnages accounted for in coal projects in the Queensland pipeline had more than halved as at 2023.
It also said there were eight projects under the Environmental Impact Statement (EIS) process in 2023 – down from 30.
Ontop of this, the scorecard said the number of resource projects under the State Development EIS process in 2023 was four, down from seven in 2013.
Related: Queensland Exploration Scorecard
“Queensland’s extensive resource base and skilled workforce positions us well for future growth, but we must address the policy and regulatory challenges to unlock its potential,” QEC Chair Kim Wainwright said.
“The QEC Scorecard is a call to action for all stakeholders to ensure Queensland remains an attractive destination for exploration investment.”
Queensland was ahead on the ‘pre-competitive geoscience data’ said QEC Exploration Scorecard working group chair Euan Morton said
It was one of two categories where the state had had scored positive sentiment.
The other was in resource prospectively Mr Morton said.
“This points to the sustained investment in pre-competitive geoscience data which has been fully digitised and is available to users for free,” he said.
“Additionally, the government has expanded co-funded exploration programs beyond minerals to include petroleum.
“This is a substantial policy change from recent years and indicates a willingness to collaborate, the shared benefit in exploration data and also support for new petroleum exploration.”
The majority, 16 of the 18 categories, showed net negative sentiment in Queensland, Mr Morton said.
“Increased costs and policy uncertainty are the greatest concerns reflecting the challenges explorers face in attracting international capital in a competitive global environment.”