Market News Mining exploration covers our state |
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BOOM BOOM: A drilling machine working during exploration at Rocklands, near Cloncurry. Picture: Lynne Verron Source: The Courier-Mail EXPLORATION and mining development has exploded to such an extent that almost the entire state is covered by some sort of lease. Farmers are now pitted against global corporations as exploration for coal and minerals alone has jumped by about 1000 per cent in five years and now covers about a quarter of the state. Added to that is the massive investment in coal seam gas and the expectation of about 40,000 wells. More than $1 billion has been spent on minerals, oil and gas exploration in Queensland in the past year alone, but despite the huge economic benefits, the farming community now thinks mining has gone too far, too fast and the Government is at least 18 months to two years behind in its regulation. "People are encouraged to get out there and go for it," Queensland Farmers Federation's Dan Gallagher said. "The rate of exploration is outstripping the Government's ability to approve it." But Mr Gallagher said while the industry did not want a moratorium on new mining development it did want approvals to slow down. The increase in exploration omits applications not yet granted for exploration, existing mining developments and coal seam gas and traditional petroleum. There are 2449 granted exploration permits for mineral and coal resources, a 70 per cent increase in number while the percentage of land they cover has grown from 2 per cent of the state to 23.5 per cent. Very few exploration permits ever result in a commercial mining project. The farming community is encouraged by some moves from the State Government to restrict mining's land grab which includes a buffer zone around urban areas and its strategic cropping land policy, however that relates to only a fraction of the state's farming land. Claims are now being made that the huge expansion of the industry and its need for fly-in workforces is leading to social breakdown, alcohol, gambling and drug abuse and putting food security at risk. The mining boom has meant exploration has grown from 2 per cent of Queensland's land mass to 23 per cent or 43.6 million hectares. The Government said about 0.5 per cent of exploration, or one in 200, actually proceeds to a development of a mine. Coal seam gas has also boomed and the number of coal seam gas wells drilled annually increased from 10 in the early 1990s to more than 600 in 2009-10. Petroleum tenements, which include gas and oil, now cover 434,155sq km. Mining tenements for coal cover 304,314sq km. The strategic cropping land area covers just 24,000sq km. Authors: mining - Yahoo! News Search Results |