PERTH (miningweekly.com) – The Queensland government has put forth a further A$5.7-million from the 2022/23 State Budget to further expand the Mackay Resources Centre of Excellence (RCOE), enabling it to become a key player in Queensland’s new economy minerals sector.

Treasurer and Minister for Trade and Investment Cameron Dick said the funding boost over three years would fund a new future industries development hub at the centre.

“This is a major win for our resources sector, for our regions, and for regional jobs of tomorrow. Our government is a strong supporter of the RCOE, having put in more than half the $7-million investment that made this centre a reality.

“The new funding will allow Mackay's RCOE to increase its work within the new economy minerals sector. It will ensure we have the skilled workforce and sharpest minds working in our mines.

“New economy minerals will be in demand for decades to come, and Queensland has world-class deposits, particularly in our north,” Dick said.

“A strong new economy minerals sector, supported by Mackay’s RCOE, will generate more prosperity for our state.”

Last year, the state government committed at least A$10-million towards a common-user new economy mineral processing plant in Townsville, initially for vanadium miners.

A number of new vanadium projects are also currently proposed at Julia Creek in the state’s remote northwest.

Resources Minister Scott Stewart said new economy minerals presented significant opportunities for Queensland.

“That’s why we’re making investments like this now, to ensure a strong future for our resources sector. Whether that’s in infrastructure such as the vanadium processing plant or with this future industries development hub, these are down payments on high-skill, well-paid jobs, particularly in regional Queensland.

“Our government’s vision is to mine, process and manufacture these minerals here in Queensland, taking them all the way from pit to product. From copper and bauxite/alumina to silica, vanadium and cobalt, we want to maximise our minerals for the benefit of every Queenslander.”

The Association of Mining and Exploration Companies has welcomed the funding commitment, with CEO Warren Pearce saying the added investment recognised the importance of expanding Queensland’s abundant new economy minerals projects.

“It will help process the minerals needed to supply the demand from emerging technologies, export partners and to provide the minerals needed for the rapidly growing renewable energy industry.”

Expansion of the resources centre is one of the new economy minerals proposals in the government’s draft 30-year plan for the resources industry.

The Queensland Resources Industry Development Plan is currently being finalised after public consultation.