Resources Victoria Strategy
Dr Elizabeth Gibson, CMPA General Manger outlines the highlights of the Resources Victoria Strategy for the extractive industry.
Resources Victoria has published a new strategy “Towards 2030” in March 2024 (https://resources.vic.gov.au/about-us/our-role/vision-and-mission). One of the top priorities is to secure the supply of quarry materials in Victoria.
The Strategy goes on to detail focus areas for 2024:
Provide a long-term strategic outlook of quarry materials to understand future supply and demand.
Approve at least 80 million tonnes per year of new extractive resources.
Provide expert advice on appropriate planning controls to protect both existing and future extractive resources industry.
However, the strategy will also:
Begin staged cost recovery increases for efficient regulatory services.
Review the royalty regime for Victorian earth resources.
Our vision
Unlock the full Potential Of Victoria’s earth resources
Our mission
To facilitate informed and Responsible earth resources exploration, development, extraction and rehabilitation
Our priorities
• Increase investment in Victoria’s earth resources, including new critical minerals
• Build confidence in the performance of the earth resources sector in Victoria and its regulation
• Secure the supply of quarry materials essential for new infrastructure and construction
What do we want to see?
Our earth resources benefit all Victorians
• A fair return to the community for its earth resources
• Traditional Owner rights and interests are properly respected
• Communities are engaged meaningfully and their interests are considered in project development
The earth resources industry is an essential part of the economy
• Earth resources continue to generate important jobs and economic benefit
• Victoria’s earth resources sector is recognised for its leading practice and is sustainable over the production lifecycle from exploration to rehabilitation
Our critical minerals support the renewable energy transition
• Victoria’s critical minerals play their part in the transition to net zero by 2045
• The critical minerals sector makes an important contribution to regional Victoria
• Essential components are being made using Victorian critical minerals
The raw materials essential to grow Victoria are secured locally
• Victoria’s growing population can access an affordable supply of quarry materials
• Over $100 billion in rail and road projects, schools, hospitals and 800,000 homes over the next decade are supplied by Victorian quarries
How will we achieve our goals?
Geoscience and evidence
Apply our specialist and technical expertise to understand Victoria’s geology and create opportunities for responsible investment.
Policy and guidance
Deliver resources policy and legislative reform that enables responsible earth resources activities, from exploration through to rehabilitation.
Licensing and regulation
Facilitate earth resources projects in a timely and transparent way that safeguards public safety, human health, infrastructure and the environment.
Promotion and facilitation
Work across government to enable investment, while supporting industry with expert advice and clear approvals processes
Our areas of focus for 2024
Applied geoscience and evidence base
• Build on Victoria’s 170 year of geoscience data and knowledge to identify and communicate new investment opportunities for critical minerals and renewable energy technology
• Prepare long term strategic outlooks for priority future supply and demand
• Provide evidence-base advice to government on risks and management options for Victoria’s mining and quarrying legacy
• Establish the evidence to inform the protection of strategically important extractive resources (SERAs)
Policy and guidance
• Work with industry to agree a 2025-27 transition plan to introduce the new duties-based model for mining and quarrying operations by July 1st 2027
• Release new policy to guide how licences are issued for exploration and development of Victorias mineral resources
• Prepare a policy proposal to reform the licensing regime for minerals
• Implement the Latrobe Valley Regional Rehabilitation Strategy – provide clear guidance and work with licensees to develop Declared Mine Rehabilitation Plans and advise on the state’s policy positions for rehabilitation
• Begin staged cost recovery increases for efficient regulatory services
• Review the royalty regime for Victorian earth resources
• Release new code and guidance to set clear performance expectations for industry activities and support compliance
Our Licensing and regulation
• Publish regulatory strategy to understand major risks, implement actions to prevent and reduce harms and measure performance
• Reduce decision timeframes by 15 percent and clear 95 percent of the backlog of long-term mineral licence applications by 30 June 2024
• Compliance actions that protect the environment, members of the public, land, property and infrastructure
• Ensure adequate rehabilitation bonds are in place to reduce liability of earth resources sites to government
• Make priority abandoned sites safe, stable and sustainable
• Upgrade online systems for rights allocation management and interaction with the regulator
• Approve at least 80 million tonnes of new extractive resources available for extraction each year
Promotion and facilitation
• Publish Victoria’s critical minerals roadmap
• Publish critical minerals studies for eight focus commodities
• Support regional communities with potential for critical minerals development to make decisions based on best available information
• Complete technical and economic studies to support critical minerals production and processing
• Provide expert advice on appropriate planning controls to protect both existing and future extractive resources industry
• Support opportunities for leading practice mineral processing in Victoria
Our leadership model
• Work together
• Do what matters
• Make a difference
Core Capabilities
• Strong organized governance
• High quality data, knowledge management and delivery systems
• Skilled and capable people
• Continuous improvement
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