The Association of Mining and Exploration Companies (AMEC) has welcomed measures in the Queensland State Budget and praised the resource sector for its significant contribution to the state economy.
Queensland generated an estimated $6.8 billion from royalties and rents over the last 12 months, with revenue forecast to rise to $9.7 billion in the next financial year.
Coal remains a major contributor. The Australian Financial Review reports that coal royalties have been upgraded by more than $1.5 billion across the four years to 2028–29, driven by a recovery in export volumes.
AMEC Chief Executive Officer Warren Pearce says the sector continues to support the state’s finances.
“We know how important our industry is to the Queensland economy. It continues to make an enormous contribution to the state budget,” Pearce says.
“But those returns do not happen by accident. They are the result of investment, exploration, development, approvals and infrastructure working together.
“As a result, the industry must be supported by the government with practical reforms that help projects move from discovery to development, and help create the right settings to attract further investment.”
AMEC applauds the government’s allocation of $146 million towards critical minerals investment, which it says should help accelerate the extraction and processing of minerals for global markets.
AMEC also welcomes the continuation of the Exploration Permits for Minerals (EPM) rent waiver through to 2028.
“This is a practical and sensible measure that allows mineral explorers to put more of their limited capital into the ground, rather than into administration. Keeping the EPM rent waiver in place supports discovery and helps Queensland remain competitive.”
Another major commitment was the Queensland Government’s $3.2 billion investment in the CopperString power project in North Queensland, with $420 million earmarked for 2026–27 to support construction activities for the eastern link.
“CopperString is nation-building infrastructure and remains one of the most important projects for Queensland’s mineral future,” Pearce says.
Write to Callum Newman at Mining.com.au
Images: Unsplash
