On Tuesday, Axiom Mining lodged three applications for oil shale exploration permits in northern Queensland between Croydon and Julia Creek.
The company claims oil shale lies between 40 and 120 metres below the surface of these tenements and could be extracted through open pit mining. The areas cover the Toolebuc formation, which hosts most of Australia’s known shale oil resources, according to Axiom.
A company spokesperson said, “Improvements made in oil shale processing technology are making viable an energy resource that is known to exist in northern Queensland,”
In February Premier Newman announced the State Government would allow the development of a commercial oil shale industry in Queensland under strict environmental conditions.
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