The Chinese translation is being made; the original is shown for now.
Queensland’s exploration expenditure rose 13.7 per cent to $900.3 million in 2025–26, driven by a surge in petroleum activity, while spending on coal, minerals and copper exploration declined.
The Queensland Exploration Council’s (QEC) 16th annual Exploration Scorecard found petroleum exploration expenditure increased 52 per cent to $434.4 million, reflecting activity in the emerging Taroom Trough.
Coal exploration expenditure fell 11.5 per cent to $188 million, while minerals exploration declined 6.6 per cent and copper exploration dropped 24.4 per cent.
The scorecard assesses the factors influencing future exploration activity alongside recorded investment and outcomes. Its 2026 findings showed sentiment improved across 12 of 18 factors, including access to capital, resource prospectivity, exploration permits and government assistance.
However, royalty and tax settings recorded the largest deterioration in sentiment, falling 11 points and placing Queensland 27 points behind competing jurisdictions. Seventy per cent of respondents were concerned royalty changes could be applied to their sector.
Queensland Resources Council chief executive Janette Hewson said the state’s geology remained a competitive advantage, but explorers needed predictable investment conditions.
“Having the highest coal royalty rates in the world increases perceptions of risk across the entire Queensland resources sector,” Hewson said.
“Queensland competes globally for highly mobile exploration capital, so competitive tax settings and lasting policy certainty are essential.”
Queensland Exploration Council chair Kim Wainwright said the results offered grounds for cautious optimism, although improving confidence had yet to translate into a broad recovery in exploration.
“Confidence is improving, but confidence alone does not deliver discoveries,” Wainwright said.
“Explorers need faster and more predictable pathways that support long-term investment in Queensland.”
The scorecard also highlighted the limited investment directed towards greenfield exploration, with only 24 per cent of minerals and coal exploration expenditure allocated to activity targeting new discoveries. This remained close to the historic low recorded in 2024–25.
“The focus on established deposits rather than new discoveries is a warning sign for Queensland’s future resources pipeline,” Wainwright said.
Hewson said faster approvals, continued investment in pre-competitive geoscience and stable policy settings were essential to turn the state’s resource potential into long-term regional prosperity.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.