Queensland-focused copper developer Alma Metals‘ (ASX:ALM) share price has risen by 8.33% on the Australian Securities Exchange today, following the state government’s announcement to conduct a targeted review of the financial provisioning scheme.
Alma Metals is now trading at $0.013 per share, with a market capitalisation of $31.23 million.
The company is focused on advancing its Briggs Copper Project, located in Central Queensland.
The Briggs copper deposit hosts a JORC-compliant inferred resource estimate of 415 million tonnes @ 0.25% copper and 31 parts per million molybdenum at 0.2% copper cut-off grade.
Last month, Alma completed a $3.6 million capital raise to fully fund stage three of the Briggs earn-in under its joint venture agreement with Canterbury Resources (ASX:CBY), enabling Alma to reach a 70% joint venture interest in the project.
The company began drilling at Briggs in April 2026, with the intention of expanding and upgrading the resource ahead of a Prefeasibility Study (PFS).
Alma’s share price gain followed the Queensland Government’s announcement that it would undertake a targeted review of the financial provisioning scheme to support resources investment.
The review will be led by the Department of Natural Resources and Mines, Manufacturing, and Regional and Rural Development, as outlined in the Queensland Budget 2026–27.
Currently, the financial provisioning scheme requires mining companies to provide financial security, pay annual contributions to a Queensland government fund, or both, to cover remediation and rehabilitation costs should miners abandon activities or fail to deliver on their environmental obligations.
The review will consider amendments to the current policy settings to ensure the scheme strikes a fair balance between the industry, the environment, and the community.
The review is intended to create a stable operating environment in the resources sector, including streamlining approvals and returning faster decisions.
Treasurer David Janetzki says the review will support long-term strength for Queensland’s resources sector.
“Queensland’s resources industry is a major driver of jobs, investment, and economic growth, particularly in our regional communities,” Janetzki says.
“This targeted review reflects the maturity of the financial provisioning scheme in supporting new and existing resources investment, while maintaining clear expectations that resource companies rehabilitate mine sites over the life of their operations.
“It is about striking the right balance between getting industry off the ground, protecting the environment, and meeting community expectations.”
Minister for Natural Resources and Mines, Minister for Manufacturing, and Minister for Regional and Rural Development Dale Last says the review would evaluate the scheme’s policy settings and administrative arrangements.
“Since becoming Minister for Natural Resources and Mines, the Financial Provisioning Scheme has been one of the top three issues smaller mining companies and explorers continue to raise with me,” Last says.
“This review will examine whether the current settings strike the right balance between supporting new and ongoing investment and managing the financial risk associated with rehabilitation.
“Queensland has an enormous opportunity to become a global leader in critical minerals, and the Crisafulli Government is committed to cutting red tape to unlock the next wave of investment.
“This review will make sure the scheme remains fit for purpose and supports responsible resources development across Queensland without constraining investment.”
Write to Maddison Elliott at Mining.com.au
Images: Alma Metals
