|Queensland is a highly prospective exploration province, endowed with abundant and diverse reserves of minerals, petroleum and gas.|
Queensland’s North West Minerals Province is recognised as one of the world's most highly mineralised areas, with the Bowen and Surat Basins also being highly productive energy regions. Excellent opportunities exist in terms of oil, gas and renewable resources.
The paradox is that while Queensland boasts a rich tradition of exploration success, much of the state remains unexplored with the latest exploration technologies. Exploration is a high-risk business, which needs to be supported by strong fundamentals—detailed pre-competitive geosciences and policy certainty conducive to ‘proving up’ brownfield and greenfield reserves.
In Canada's 2010-11 Fraser Institute survey of global mining potential, Queensland's exploration ranking potential fell again from 24 in 2009-10 to 38. In the 2011-12 survey Queensland jumped back into 28th place, but still fell well short of the Northern Territory and Western Australia. In 2006-07, Queensland was ranked number eight in the world.
QRC has established the Queensland Exploration Council, a multi-sectoral group chaired by retired Queensland Deputy Coordinator-General, Geoff Dickie.
The QEC has been formed to promote and facilitate minerals and energy exploration in Queensland with the aim of positioning the state as an exploration leader by 2020 with Brisbane at its heart.