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EOIs open for $520M fund to reduce coal emissions

Expressions of Interest are now open for the Queensland Government’s Low Emissions Investment Partnerships (LEIP) program.

The $520 million program aims to drive down emissions in Queensland’s metallurgical coal industry.

The LEIP program aims to help scale up investment in innovations such as the use of alternative fuels and capturing fugitive emissions from coal mines for power generation. The state’s coal royalties will be invested into the regions to help accelerate the decarbonisation of the industry.

Queensland Deputy Premier, Treasurer and Trade and Investment Minister Cameron Dick said this is an investment that will ensure the state stays on track for its emissions reduction target of 75 by 2035.

“Our major regional employers are already looking for ways to decarbonise and now with our support, implementation can be fast tracked,” he said.

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“Queensland’s progressive coal royalty tiers are delivering for the people of Queensland, and now they will give us the opportunity to help deliver faster emissions reductions.

“This is beneficial to the long-term sustainability of Queensland’s coal mines.

The program will preference projects that can be delivered by 2030 and that exceed the Australian Government’s Safeguard Mechanism requirements.

Dick said Queensland’s metallurgical coal is the best quality in the world, and for decades to come, it will have a critical role in producing steel.

“By investing in infrastructure and technology now, Queensland’s coal industry can stay competitive, keep creating new jobs, and keep our regions strong,” he said.

“The new investment partnerships program builds on the Queensland Energy and Jobs Plan which is a robust roadmap to deliver clean, reliable and affordable energy to households and businesses.

“The program will develop low-emissions knowledge and implement low-emissions technology in Queensland.”

Queensland Resources and Critical Minerals Minister Scott Stewart the state’s mining industry has always been on the cutting edge of technology and though this program it will be able to help coal mines cut emissions through innovative ways.

“It is good for those mine operators as well as the thousands of people that work in the industry,” Stewart said.

“It’s through our progressive coal royalties that we can invest back into the industry and the communities they operate in.”

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