The Minerals Council of Australia (MCA) Victoria has released a new regulatory framework, Rediscover Victoria, to influence reform and policy change to focus on the state’s growth in the mining sector.
The framework calls for a “commitment to regional economic diversification and for mining to be recognised as a priority industry for regional development” within Victoria.
The November state election will be a significant opportunity for the government to make the most of the state’s resources.
The policy priorities set out critical policies to remove impediments to minerals exploration, remove artificial challenges to turning resource discoveries into new mines, and improve environmental and community regulation without reducing standards.
Victoria stands on the cusp of a second mining rush if the government seeks to make the most of the state’s rich resources.
According to the framework, and MCA Victoria’s Executive Director, James Sorahan, Victoria’s regulatory regime is no longer fit for purpose with a growing mining industry that needs to supply the world with critical minerals for modern technology.
Mr Sorahan said in Rediscover Victoria, “Supporting the development of Victoria’s minerals industry should be a high priority for the government to secure more economically diverse and prosperous regional communities.”
Mr Sorahan called the current exploration licence regime as “clumsy” and called out the “long permitting timeframes, restrictive bonds regime and high tax regime” which are lacking, compared to other mining states.
MCA Victoria said Victoria’s policies need to be modernised to ensure there is effective conversion of the state’s resources into mines, and subsequently, regional jobs.
“A strong minerals sector is good for Victoria, particularly regional Victorian jobs and local business suppliers.”
According to the framework, Victorian mines spend more than half their suppliers spend in Victoria, injecting over $300 million directly into regional and Melbourne businesses.
Victoria can supply the tech metals the world needs for renewable energy and modern technology from lithium to copper and rare earths to antinomy.
MCA’s Victoria’s minerals industry five priorities are:
- Strategic minerals project support to help mining projects navigate the maze of multiple and duplicative regulatory agencies, and see projects through all the stages of assessment and approval
- Reform Victoria’s complex and poorly designed exploration licensing regime to give certainty to explorers and stop wasting regulator efforts on compulsory early land relinquishments
- Reform the royalty tax regime by introducing an exploration deduction to encourage investment in resource replacement and devote gold royalties to communities in regional Victoria
- Re-introduce a co-funded exploration grant program to match other states
- Support industry efforts to introduce regionally delivered mining entry level courses to provide pathways for locals into mining jobs.
Rediscover Victoria ensures the industry’s goal to operate safely, respectfully and responsibly. This includes conserving the environment, supporting regional prosperity through being a part of the community and providing social and economic benefits. This includes “working in partnership to protect Indigenous heritage”.
Government and communities have a responsible partner in modern mining and MCA Victoria members to deliver the benefits mining can have to regional towns.
You can view the new framework by visiting the MCA Victoria site here.
Image courtesy of MCA Victoria.
