Overseas companies have shown interest in exploring land recently released by the State Government in North West Queensland, Mines Minister Geoff Wilson said today.
Mr Wilson said four Restricted Areas were repealed last month, giving local and international explorers an opportunity to apply for exploration permits over these areas.
Nine applications were received for the four areas.
“Applications were received from companies from South Korea, China and the United States of America as well as Australia,” Mr Wilson said.
The applications were being assessed and the successful companies were expected to be known soon, he said.
“Attracting exploration into this part of the State would not have been possible without the Queensland Government’s $20 million Smart Exploration program,” he said.
The program provides modern geophysical data over the prospective part of the state highlighting potential exploration targets.
Member for Mount Isa Betty Kiernan welcomed the news.
“Overseas companies are joining the many Australian companies who have already recognised the vast mineral potential of the North West,” Mrs Kiernan said.
“We welcome any explorer to the region. Exploration ultimately leads to more mines and more jobs, and more jobs boosts our economy and powers the further development of the North West.”
Mr Wilson said the Restricted Areas were located in relatively under-explored parts of the state over relatively deep potential exploration targets.
“Without this data it would have been almost impossible to attract exploration interest to these areas,” Mr Wilson said.
“This geophysical data enables companies to better target their exploration activity in what can be a high-risk activity.
“Recognition of the mineral potential of this part of the State allows opportunities to be promoted to the national and international exploration community.
“Applications from both overseas and local companies are a sign of the effectiveness of these promotional activities.”
Mr Wilson said the creation and subsequent repeal of restricted areas gave local and international explorers an equal opportunity to apply for exploration permits over these areas.
A pdf map of the four areas is available on request.
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