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Minister for Natural Resources and Mines Andrew Cripps announced the review at the Queensland Mining & Engineering exhibition in Mackay this morning as part of the Newman government’s six-month plan.
The review was focused at lowering application costs and streamlining applications to encourage investment in the junior mining sector.
"Exploration today helps discover the mineral and petroleum resources that deliver the mines and jobs of tomorrow," Cripps said.
"The latest Australian Bureau of Statistics data shows Queensland attracted a record $A1.43 billion in exploration expenditure during the 12 months to March 31, 2012.”
Coal and petroleum exploration accounted for nearly 86% of that figure.
"This ongoing strong performance means Queensland accounted for approximately 21 per cent of all exploration activity in Australia over the 12 months to March,” Cripps said.
Targets over the next six months included a review of legislation and regulation for junior miners to lower application costs, guidelines to support the royalties for regions program, the completion of Galilee and Surat Basin infrastructure plans and to progress a port strategy as part of an assessment for the Great Barrier Reef.
AMEC regional manager for Queensland and the Northern Territory Bernie Hogan welcomed the news and looked forward to contributing to the review.
“In a Queensland policy platform AMEC called on the government to review government administration of minerals exploration and mining with the intention of removing inefficiencies and duplications in associated legislation, practices and procedures,” he said.
“Recommendations made to government in the AMEC policy platform are fundamental to Queensland maintaining its status as an attractive jurisdiction for exploration and mining investment.”
Hogan said recent federal government policies had created uncertainty for miners and investors.
“With more and more investment going offshore to countries such as Africa and South America where public policy is not as uncertain as it is in Australia, it is time state and federal governments change public policy to encourage investment towards Australia,” he said.
