State targets ‘green economy’ with $10m new minerals boost

A NEW "booster pack" is promised to supercharge exploration for new minerals and support mine technology innovators to deliver future mine jobs.

Premier Annastacia Palaszczuk has announced $10 million in exploration grants to speed up the development of new mines to take advantage of high domestic and international demand in the growing green economy.

Funding of $650,000 is also available to help small businesses in the mining equipment, technology and services sector to accelerate commercialisation of their ideas.

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China and the Congo currently dominate the global market in new economy minerals, which include traditional minerals like copper, zinc and nickel, as well non-traditional like cobalt, rare earths and vanadium.

Ms Palaszczuk said the COVID-19 pandemic had further accelerated the demand for new economy minerals with the increased use of digital communication technology.

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"Queensland is rich in the minerals needed to manufacture the computers and smartphones we are communicating with, the renewable energy components needed to power them and the batteries we need to store the power," she said.

The $10 million will be made available as exploration grants of up to $200,000 over four years.