Strong economic value lies in North West Minerals Province
The Queensland Exploration Council (QEC) has welcomed a new report which highlights the vast mineral resource value and economic potential of the North-West Minerals Province and wider Northern Queensland area.
Released today, the Repowering the Townsville & North West Minerals Province Industrial Economy report estimates that known in-ground value of resources in North West Queensland is more than $680 billion across multiple commodities.
Kim Wainwright, Chair of the QEC, said the report published by Copperstring 2.0, highlights that Queensland is ripe for new exploration.
“We know Queensland’s North West Mineral Province is world-class with substantial potential particularly in new economy minerals to the value of $500 billion,” Ms Wainwright said.
“These up-and-coming new economy minerals are in high demand due to the development of new technologies and renewables, such as solar panels, batteries, and wind turbines, and in transport such as electric vehicles,” Ms Wainwright said.
In addition to the significant potential of uncovered new economy minerals, Copperstring 2.0 reports that 70 percent of Queensland’s base metals and minerals can be found in the North West Mineral Province.
“The region has a lot to offer, holding 21 percent of the world’s lead, 11 percent of zinc and 5 percent of silver,” Ms Wainwright said.
“Getting these commodities out of the ground should be our priority, in turn creating more jobs for regional Queenslanders.”
“The report’s findings also compliment a recent study outlining mineral research and development priorities in Queensland which the QEC recently collaborated with the Department of Natural Resources Mines and Energy, the University of Queensland and the QRC,” Ms Wainwright said.
Click here to view the new report from Copperstring 2.0: Repowering the Townsville & North West Minerals Province Industrial Economy
Click here to view: Research and Development Priorities for Minerals in Queensland
Media contact: Anthony Donaghy 0412 450 360
