DPI Update
Coalition Government invests $31.7 million to strengthen Victoria’s earth resources sector.
THE Victorian Coalition Government announced it will spend $31.7 million over four years on programs to build a strong, safe and sustainable mining industry.
Energy and Resources Minister Nicholas Kotsiras said more than $19 million of the funding, announced in the 2013-14 Victorian State Budget, would be directed to reinvigorating the State’s mining industry by driving a new wave of exploration and reducing barriers to investment. “Mining has a proud tradition of contributing to the Victorian economy and society and the Coalition Government is determined to ensure it has a vibrant future,” Mr Kotsiras said. “Our vision is for a strong and prosperous mining industry that delivers jobs and investment in regional Victoria and makes a significant contribution to the economy while respecting the rights of landholders and protecting the environment.”
The announcements will strengthen Victoria’s mining industry and help build for growth across rural and regional Victoria. Mr Kotsiras said this funding would deliver on the Coalition Government’s response to the Economic Development and Infrastructure Committee’s inquiry into greenfields mineral exploration and project development in Victoria, which would be released soon.
A further $4.2 million will be spent to address mine stability risks at major coal mines in the Latrobe Valley. Mr Kotsiras said this funding would speed up work on specific projects that have been identified as priorities and increase the on-ground oversight and technical capacity of the Department of State Development, Business and Innovation to deal with highly complex mine stability issues.
“The Coalition Government is boosting resourcing to make sure action is taken quickly to address the most urgent mine stability risks in the Latrobe Valley,” Mr Kotsiras said. “The Coalition Government is already working to improve the management of mine stability risks and with this funding we are stepping up our efforts to reduce the risk of failures at mines that could affect infrastructure, public amenity and private property. This $4.2 million will be spent on dealing with the most urgent mine stability issues and building the Coalition Government’s capacity to identify and respond to mine stability risks.”
The Coalition Government has also announced that it is extending the funding for Clean Coal Victoria, with a further $8.3 million over four years. “Victoria is home to one of the world’s great brown coal resources and Clean Coal Victoria plays an important role in planning access to and development of this strategic asset,” Mr Kotsiras said.
Media contact: Miranda Oakes 0438 614 395
miranda.oakes@minstaff .vic.gov.au
You must be logged in to post a comment Login