4.4 QEC’S
Measurement of Operating Sentiment
As part of the 2025 Queensland Exploration Sentiment Survey, companies were asked to assess the extent to which various factors within 18 categories influenced the success of their commercial objectives in Queensland for 2024-25. Companies were also required to provide parallel assessments for their other jurisdictions outside Queensland, both in Australia and overseas, where they conduct most activity. To maintain consistency for year-to-year comparisons, most sentiment categories, evaluated in the Scorecard have remained unchanged since its inception in 2011. In recent years, new categories have been incorporated into the survey in response feedback and or economic factors. In 2019, the Scorecard introduced a category focused on assessing sentiment regarding Queensland’s royalty and tax rates. In 2021, another category was introduced, specifically addressing sentiment related to the impact of the COVID-19 pandemic. The sentiment measurement for COVID-19 concluded with the 2023 Scorecard. Last year a new category labelled “Approvals” was included following qualitative feedback in previous years that the approval process was a challenge. The impacts of policy uncertainty across the Commonwealth and State impact different sectors differently and accordingly, we continue to consider each separately.
The sentiment survey for this year gathered responses from 53 companies engaged in exploration and drilling activities within Queensland. These companies collectively declared 58 exploration targets, reflecting that several respondents were involved in multiple exploration endeavours. In the 2024-25 survey, the most prevalent exploration targets in Queensland included critical minerals (24%), base or precious metals (34%), unconventional oil and gas (14%), metallurgical coal (12%) and thermal coal (5%). Other exploration targets in Queensland encompassed conventional oil and gas, bauxite, industrial minerals, and carbon capture and storage reservoirs. Out of the 41 exploration responses received, 14 companies reported conducting exploration activities in other jurisdictions as well as Queensland. The sentiment for each category were consolidated into a single value, with each response assigned a specific weight. “Strongly positive” (or negative) responses received a weighting of 1 (-1), “positive” (or negative) responses were assigned a weighting of 0.5 (-0.5), while “not at all” responses were accorded a weighting of 0. For a more detailed explanation and a worked example, please click here.
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