Coal royalties have boosted the 2017-18 Queensland budget and contributed to a third consecutive surplus, with more forecast in the future.

Described as a “jobs bonanza budget” by Premier Annastacia Palaszczuk, she largely attributed the result to royalty revenue from the resource industry.

Net operating surplus for 2016-17 is expected to be upwards of $2.8 billion – the most substantial figure in more than a decade – thanks to a surge in coal royalties by 97 per cent this year, the equivalent to $1.897 billion.

As part of the state budget, almost $450 million is being allocated in a bid to stimulate the next generation of resource projects.

The funding is aimed at boosting exploration in new frontiers and delivering a gas supply and demand action plan.

Over fours, $27.125 million will be targeted to expand exploration and development through the Strategic Resources Exploration Program.

Exploration for gas in the Georgina, South Nicholson and Isa Super Basins will be allocated $3.6 million, supporting the implementation of the Strategic Blueprint for Queensland’s North West Minerals Province. It also includes funding for different forms of mapping so explorers can better understand what’s below the ground.

The areas of mineral geophysics, geochemistry and synthesis will receive a total of more than $10 million in funding to assist in pinpointing the locations of potential new mineral prospects, deposits, and to develop a better understanding of the geology of resource-rich regions.

Other relevant measures for resource employers  in the State Budget, included;

• $3.7 million for the Coal Mine Workers’ Health Scheme
• $1.16 billion for a Powering Queensland Plan to ensure an affordable, secure and sustainable energy supply
• Release of the North West Minerals Province Strategic Blueprint accompanied by $39 million in funding over four years to support resource development and add value to the region
• $75 million to upgrade the channel for the Port of Townville to prepare the Port to service the next wave of discoveries from the North West, s well as operate efficiently as an essential logistics, defence and tourism hub for North Queensland.