Breathing space for explorers a welcome relief - QRC

QUEENSLAND Resources Council (QRC) has welcomed the announcement by Minister for Natural Resources and Mines, Dr Anthony Lynham, to reduce by up to 50 percent, the expenditure that explorers are required to make under their minerals exploration permits.

"This initiative will provide much needed relief to mineral explorers across the state in places like Cape York, Mount Isa and operations west of Townsville and Cairns," QRC chief executive Michael Roche said.

"This is an example of how government can partner with industry to provide incentive and some breathing space in tough times without providing a handout or subsidies. QRC also welcomes the fact that the Minister is investigating  extending this policy to coal explorers whose circumstances  are really no different to that of mineral explorers.

"We look forward to having the opportunity to discuss with the Premier and the Cabinet Jobs Committee, a wider partnership plan to provide breathing space for the resources sector or, as the Minister told the Parliament today: 'Giving time for the market to recover'.

"As QRC foreshadowed last week, jobs losses are an inevitable fact of the current severe cyclical downturn in commodity prices but there are areas where Government can partner with industry to alleviate the costs of doing business in Queensland to ensure we remain globally competitive and investment in existing and new projects continues," Mr Roche said.

"The Minister is correct that there is still a lot of interest in resource assets in Queensland. The decision by Anglo American to offer more of its Queensland coal assets for sale is based on a company strategy of repairing its balance sheet and we have no doubt those assets will find new owners.

www.qrc.org.au

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