Speaking at a major mining conference in Brisbane today, Mining Minister Stirling Hinchliffe says the record investment underpins Queensland's international reputation as an attractive exploration destination.
"It's a great result for Queensland and it sends a clear message to investors that we are well and truly open for business," Hinchliffe says.
He says the result highlights the ongoing value of Bligh Government initiatives such the $18 million Greenfield 2020 program to stimulate exploration growth in Queensland.
Queensland’s total investment during the 12 months to June 30 includes $463.1 million for petroleum and gas exploration, $456.4 million for coal, and $207.1 million for mineral exploration.
Hinchliffe says the figures represent a 23 percent increase over the $917.1 million recorded the previous year, and exceeds the combined exploration expenditure in South Australia, Northern Territory, NSW, Victoria and Tasmania.
The record $1.126 billion performance means Queensland now accounts for 17.9 percent of total Australian mineral and petroleum exploration expenditure.
Hinchliffe is promoting the importance of mining investment in Queensland at the Mining 2011 Resources Convention, which is being held at the Brisbane Convention and Exhibition Centre until Friday.
Queensland Business Review
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