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ARTICLE · 28 JULY 2013

Cash bidding for mining exploration permits in Queensland - a losing game for junior explorers?

Corrs Chambers Westgarth
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Will cash bidding sharpen or further erode Queensland's competitive edge in the mining market?

AustraliaEnergy and Natural Resources
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The Queensland Government recently opened the second round of competitive cash tenders for authorities to prospect for petroleum in the Surat and Bowen basins. The results of the first round will do nothing to allay fears that junior explorers might be squeezed out of the state's most highly prospective acreage.

At a time when the nation's competitiveness in the global resources industry is declining, will cash bidding sharpen or further erode Queensland's competitive edge?

Earlier this year, Queensland's Mining and Other Legislation Amendment Act 2013 introduced a cash bidding process for exploration permits for coal (EPCs) and amended the existing tender process for authorities to prospect for petroleum (ATPs).

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