URANIUM projects in the North West will start to gather speed as the government's efforts to cut down the time and cost of approvals flow on to industry.
The latest process to have the 'red tape' cleared was the environmental impact statement (EIS) and social impact assessments for large resource companies.
Miners already well established in the region may have missed out on the savings but the state's fledgling uranium projects are set to see the benefits.
Laramide Resources Limited vice president, exploration and business development, Peter Mullens said the company's Westmoreland uranium deposit north of Doomadgee would enter into the EIS process in the next 12 months.
Mr Mullens said he supported the changes but ensured full and complete environmental studies would still be provided.
"Obviously we support the government's changes and want to adhere to world's best practice," he said.
"We're keen to move the project forward but it helps with clarity with investors."
The uranium project has just made it through a two-year baseline study, with Laramide waiting for a change in the market to continue forward.
Floating just under $40, the spot price of uranium has recently dropped due to an oversupply in the market after Japan's demand for yellow cake slowed following the Fukushima nuclear incident in 2011.
It is likely investors will wait for the spot price to increase towards $60 before making any more moves towards production.
Queensland Resources Council chief executive Michael Roche said the regulatory reform was building Queensland's global reputation as a leading resources region.
"What we are seeing again from this government is a commitment to outcomes over process in the shared interests of industry, communities and the environment," he said.
Mr Roche said the risk-based and generic terms of reference for the EIS processes would save unnecessary costs and delays to major resource projects bringing Queensland in line with other world resource leaders.