Exploring new mine options

FRESH mining exploration could unlock the “new Mount Isa” and wealth and jobs for North Queensland.

The federal government’s $125m expansion of the Exploring for the Future program, announced yesterday, will minimise the risk for smaller companies looking for new mineral deposits.

Aeon Metals exploration manager Dan Johnson said this data provided through the program helped remove the risk for junior companies.

He said the program had the potential to “generate the next Mount Isa” as more companies explored the virtually untouched places.

Mr Johnson said Geoscience Australia had completed the surveys on a large scale, which was expensive for smaller companies.

“This is something that we then can use to see how our little plot of land wherever that might be sits in relation to these larger surveys,” he said.

“This particular corridor comes down from Carpentaria through Mount Isa and down into South Australia.”

“Its an exciting area that has seen very little exploration. It’s very remote, it’s expensive to explore in these areas, so this is a great advantage.”

Senator Susan Mcdonald said Northern Queensland could play an important role in providing resources for emerging industries and critical resources.

She said the Exploring for the Future program helped companies without major investment to “level the playing field” and open up more mining in the state.

The Queensland LNP senator has been in North West Queensland for the past two days meeting with councils and businesses.

“We saw a terrific inland port project at Cloncurry which allows junior miners to get on to the rail to reduce their costs and allow them to get ore across to Townsville for processing,” Ms Mcdonald said.