A blueprint for the resources sector in Victoria until 2023 has been developed to help grow investment and jobs in state.
State of Discovery: Mineral Resources Strategy 2018–2023 has been released by Minister for Resources Tim Pallas, outlining a target of total exploration investment of $220 million by June 2023 and at least one significant mineral discovery by 2028.
Research has shown potential for finds of copper, gold and other minerals in the state.
The minerals industry in Victoria employs 121,000 people and makes a total direct and indirect contribution to the state in 2015/16 of $13.6 billion, or four per cent of Gross State Product.
The strategy outlines five key action areas:
- Confident communities and responsible explorers
- Advancing geoscience and encouraging mineral exploration and development
- Victoria as a global mining hub
- Improve regulatory practice and industry compliance
- Deliver modern, fit-for-purpose laws
“Victoria has a rich mineral endowment, world-class geoscience data and low sovereign risk,” the strategic overview read.
“It is emerging as a new prospective province for copper and other base metals. It is also a resurgent province for gold, following an increase in mineral exploration activity in Victoria and predictions for resource prospectively.
“Responsible minerals exploration and development will bring jobs and economic development, particularly in regional Victoria.”
Members wishing to provide feedback on the Victorian Government’s plan for the state’s resources sector should contact [email protected]