Natural Resources and Mines Minister Anthony Lynham said the MyMinesOnline project would slash turnaround times by up to 80%.
"This is a real game changer for industry compared to the old days when paper forms had to be lodged over the counter," Lynham said.
"MyMinesOnline now allows coal, mineral, petroleum and gas companies operating in Queensland to lodge applications for 72 different resource permit transactions electronically.
"This makes Queensland even more competitive globally when it comes to attracting the mining and exploration investment that we need to generate jobs."
Queensland Resources Council deputy CEO Greg Lane said MyMinesOnline was one of the most advanced online tenure management systems in the world.
"MyMinesOnline is now central to Queensland's global competitive advantage," Lane said.
"With MyMinesOnline, Queensland will be ready for the next upswing in resources sector activity.
"Industry has worked with the department hand in glove to deliver a system that meets both parties' needs."
The system also allows for a proponent to track their application through the assessment process and have a clear communication point with the department, Lane said.
"The successful implementation of MyMinesOnline has meant faster approval and renewal timeframes for all commodity groups across 72 different types of transactions," he said.
"It provides industry with greater transparency and certainty of the tenure application and ongoing management process."
Lynham said the average time to grant an exploration permit for minerals has been cut by 58% since December 2010.
"Exploration permit applications were taking an average 22 months to process through the old over-the-counter paper lodgement system," Lynham said.
"Today, exploration permit applications lodged through MyMinesOnline can be dealt with in less than six months if a native title process is not required.
"MyMinesOnline has become one of the most advanced natural resources permit lodgement, management and assessment systems in the world, which shows Queensland is open for business."
Lynham said the system was available globally, around-the-clock and was cutting turnover times across the board.
