In handing down the State Budget for 2025, the Queensland Government has axed its Collaborative Exploration Initiative (CEI) grant scheme amid a total decrease to resources royalties.
Association of Mining and Exploration Companies (AMEC) CEO Warren Pearce says the association is disappointed with the government’s decision to cut funding, after dedicating $10 million towards the initiative over the past four years.
“Queensland risks losing investment opportunities, especially in the North West minerals province, where prospective copper projects have the potential to provide economic growth for the state economy,” Pearce says.
“The CEI shouldn’t be taken for granted, with exploration the lifeblood of the resources industry.”
Royalties generated from the state’s resources sector have decreased to $7.98 billion in the 2025 financial year, down from $12.77 billion in 2023, with coal royalties sliding from $10.52 billion to $6.17 billion.
AMEC believes this illustrates the state’s need to expand its commodity base beyond coal exportation, which the Queensland Government is working to expand via improved freight efficiency following a recent roundtable discussion, as reported by Mining.com.au.
Meanwhile, Queensland will shift focus towards copper production, with another $1.4 billion injection into the Copperstring project to meet the commodity’s expected growth surge for clean energy.
“With copper being the backbone to the renewable transition, now should be the time for Queensland to shine,” Pearce adds.
“Significant infrastructure projects like Copperstring bring opportunities for new jobs, new mines and new revenue streams for the government.”
The Abandoned Mine Land Program is also set to see $32.3 million in funding to commercialise and manage historical sites in Queensland, with an additional $4.6 million delegated towards geoscience activities and data technologies across the resources sector.
“With strong headwinds and international tensions hitting many mineral commodities, it’s crucial the resource industry receives the support it needs, to maintain the resilience of the budget and the economy,” Pearce says.
“For Queensland to realise its immense opportunity and economic prosperity, it must diversify and find ways of developing projects beyond the traditional coal industry.”
AMEC is an industry association that represents more than 500 explorers, miners, producers, as well as associated businesses and service providers.
Mining.com.au is an associate member of AMEC.
Write to Maddison Elliott at Mining.com.au
Images: iStock
