Minister for Natural Resources and Mines Andrew Cripps said the 2364sq.km to be released in the coming round was in the southern margin of the resource-rich and highly prospective North West, about 400km south of Mount Isa.

“Recent airborne geophysical and ground gravity survey data collected as part of the Queensland government’s $A20 million Smart Exploration program has indicated the area is potentially rich in a range of minerals and rare earth elements,” he said.

“That’s why the government intends to repeal Restricted Areas 351, 353 and 354 in July 2013 to allow companies to apply for exploration permits for minerals.”

The strategic release, scheduled for July 7, is part of a government strategy to temporarily restrict certain highly prospective areas and open them later to applications for exploration permits through a “competitive and fair assessment process.”

According to Cripps, the planned, staggered releases encourage exploration into frontier and under-explored areas of the state, as well as ensuring a robust Queensland resources industry with continued economic benefits and job creation.

“It also provides an opportunity to promote investment in Queensland and its resources on the global stage,” Cripps said.

To date, the government has created 26 restricted areas in the North West Queensland mineral province, with six land release rounds comprising 23 restricted areas opened to exploration.

In that time, 67 applications were filed for exploration permits from companies throughout Australia and overseas, with more than $A48 million of exploration expenditure currently committed.

Companies will be able to lodge applications beginning July 8.