Qld govt funds North West mining companies in search for critical minerals

Up to $300,000 in funding has gone to 18 projects in total to help dig, drill, sample and survey for new mineral deposits aimed at supplying the clean energy sector. Program data will be made public to help encourage more mineral discoveries.

Almost three quarters of the successful grant applicants are involved in the discovery of new copper deposits.

This includes Mount Isa Mines' survey of the Buckley West area, NeoDys Mining's Barkly Ree Project and Cooper Metals' copper-gold survey at Brumby Ridge.

The funding sits under the state government's $245 million investment program called the Queensland Critical Minerals Strategy.

Critical Minerals Minister Scott Stewart said the latest funding round will help Queensland companies eager to find new deposits.

"This funding provides a financial safety net for explorers to take on projects in the hope that it will lead to important discoveries," he said.

"We want Queensland to mine, process, and manufacture those new economy minerals to create jobs and produce royalties that will fund Queensland schools, hospitals and roads.

"You can't have a renewable energy without a resources sector, and you can't have a healthy resources sector without exploration."

True North Copper was awarded funds for a survey of their Mt Oxide project, about 130 kilometeres north of Mount Isa.

"This is a pivotal moment for True North Copper as we aggressively explore the Mt Oxide Project," managing director Marty Costello said.

"The Collaborate Exploration Initiative facilitates Queensland companies like True North Copper to harness cutting-edge science to achieve real-world critical minerals exploration outcomes.

"We will use our CEI grant of $300,000 to deploy MIMDAS, a deep seeking geophysical technique, and work towards unlocking our Mt Oxide Project's full potential."