Commenting on the ABS data for the March quarter of 2006, QRC chief executive Michael Roche welcomed an upward trend in spending on exploration for base metals in Queensland.

“However, the overall picture is still one of Queensland treading water in terms of attracting new exploration dollars,” he said.

“During the first nine months of this financial year, Queensland secured less than 18 percent of the nation’s total exploration expenditure and more than two-thirds of that was focused on areas surrounding existing mineral deposits,” he said.

“Brownfield exploration is a valuable tool in extending the economic life of mines but what we need to be focusing on now is finding Queensland’s next generation of world-class mineral deposits.”

Roche noted Queensland had lifted its national share of exploration spending from around 16% to just under 18%, but over the same period South Australia had doubled its share from 5% to 10.5%, thanks to proactive state government policies.

“Queensland is in competition with other states and other countries for its share of exploration expenditure and must continually demonstrate its competitiveness to the global market,” Roche said.

“That is why we believe it is essential for industry and the State Government to work cooperatively to deliver a policy framework that will deliver a healthy exploration industry, and in turn, a healthy resources sector for the benefit of all Queenslanders.”