2.0 Queensland’s Resource Prospectivity
Queensland’s resource-rich landscape continues to underpin exploration activities, offering a diverse range of mineral and energy deposits. Key targets remain base and precious metals, coal, and gas, as underscored by the Queensland Resources Infrastructure Map (Figure 2 on p12), which remains a vital reference for industry stakeholders in translating geological potential into projects. Understanding and converting Queensland’s plentiful resources into viable projects remains critical especially as new data and geoscience tools are progressively rolled out. Queensland’s coal and base-metals sectors retain deep historical significance. The gold rush in Gympie (1867), followed by discoveries at Palmer River, helped establish the state’s economic foundations. The Cloncurry district became a copper source between the 1890s and 1920s, laying the groundwork for Mount Isa Mines. Coal development in the Bowen Basin surged in the 1960s, cementing Queensland’s status as a prime supplier of coking coal. Thermal coal continues to be mined from the Clarence-Moreton and Surat Basins, with the Galilee Basin offering further potential.
Queensland’s coal is a significant economic driver, with the coal sector generating about A$85 billion in value in 2023-24 (supported more than 380,000 jobs), and metallurgical (steelmaking) coal accounting for approximately 80% of that value, suggesting breakthrough contributions to both regional and export-oriented economies 1 . The state also boasts a unique history of petroleum exploration, with gas first discovered near Roma over a century ago and Australia’s first commercial oil at Moonie more than 60 years ago. Gas production in the Cooper and Eromanga Basins (around Ballera and Jackson) and coal seam gas in the Surat (Roma, Dalby) and Bowen Basins remains world-class. Australia and particularly the eastern Australia market is in need of new gas and oil supply. Whilst the Galilee and South Nicholson Basins hold Prospective and Contingent Resources, it is the deep Bowen Basin (Taroom Trough) which is emerging as a potential significant oil & gas resource. Results from drilling, horizontal wells and fraccing over the past year are encouraging with significant flows of oil, gas and condensate having been achieved. Technical and cost challenges are apparent but the industry has shown before its capability and determination to meet such challenges.
1 QRC Coal Factsheet 2023-24
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