The Queensland Resources Council (QRC) has welcomed amendments passed yesterday to Queensland Government legislation to support the state's growing critical minerals sector.
QRC Chief Executive Ian Macfarlane said the Coal Mining Safety and Health and Other Legislation Amendment Bill will now allow for the deferment of rents for specific critical minerals projects, which includes some in the prominent Northwest Minerals Province.
"Rent deferrals for critical minerals projects is a key recommendation in the Queensland Resources Industry Development Plan (QRIDP) to attract new investment and get projects off the ground faster," Mr Macfarlane said.
"We all know critical minerals are a huge part of the future of the Queensland resources sector, with projected global demand exceeding current supply levels in some commodities.
"Critical minerals are crucial to the development of new technologies in industries including energy, transport, communications, health, and defence," Mr Macfarlane said.
"Queensland has the potential to be a critical minerals powerhouse, we now need the policy settings in place to promote development within a timeframe that guarantees our place in the highly competitive global marketplace.
"The QRC congratulates the Government's response to facilitate critical minerals projects and looks forward to further detailed work on the broader critical minerals strategy in 2023."
