Victoria has released an action plan to reinvigorate the State’s earth resources industry through streamlining processes, establishing a new single point of contact for investors and launching a major new investment attraction program.
Energy and Resources Minister Nicholas Kotsiras said the plan, set out in the Coalition Government’s response to the Economic Development and Infrastructure Committee’s (EDIC) report into the industry, will be delivered with $19.2 million in funding announced in the Victorian Budget.
“The Coalition Government is setting out a clear plan to deliver a strong and responsible earth resources industry that makes a bigger contribution to Victoria’s economy and creates more jobs and investment in rural and regional Victoria. There is exciting potential for growth in the resources industry in Victoria, but more needs to be done to actively attract investors and to make sure that we make the most of the great opportunities we have in this State for the benefit of all Victorians,” Mr Kotsiras said.
The plan to boost Victoria’s resources industry will include:
- the creation of Minerals Development Victoria (MDV) to be a single point of entry for investors dealing with the Victorian Coalition Government;
- the launch of a major investment attraction program, internationally backed up by cutting edge geoscience information;
- the introduction of the annual International Mining and Resources Conference in Melbourne;
- greater certainty for industry on approvals with the introduction of statutory timelines;
- approvals processes streamlined to keep down costs while maintaining the same level of protection for the environment and communities; and
- stronger stakeholder and community engagement to make sure communities get the facts about activities in their locality, their rights and the regulatory process.
Mr Kotsiras believes the reforms would help deliver greater confidence and more timely and cost effective decision making for resource investors.
“By cutting red tape without diluting environmental protections we can encourage new investment in Victoria and boost exploration activity to drive a new generation of resources projects in this State,” Mr Kotsiras said.
The full Coalition Government response to the EDIC report can be found at www.parliament.vic.gov.au/edic/article/1391