Resources exploration grants attract record bids
STATE exploration grants have attracted record bids as explorers line up to find the next big Queensland resources project.
Mines Minister Anthony Lynham said he latest round of exploration grants had generated twice the previous response.
Applications are being assessed.
The government brought forward the $2.8 million grant round as part of a multimillion-dollar package to support resources projects and jobs.
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"It's clear that explorers were looking for stimulus to get through the COVID-19 storm," Dr Lynham said.
"The government's exploration stimulus package is going to help keep the pipeline of future resources projects and jobs flowing as Queensland recovers."
The latest Australian Bureau of Statistics figures showed exploration investment for the year to the end of March was up more than 30 per cent on the previous year.
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"However, we know that many enterprises have since put exploration on hold, and that junior explorers are having difficulty sourcing capital," Dr Lynham said.
The grants offer explorers up to $200,000 to encourage innovative exploration across the state.
