Southern Cross Gold Ltd (SXG) has welcomed the Victorian Government‘s implementation of anticipated regulatory reforms for the Victorian resources industry.
The State Government stated this week that it will invest $23.3 million to improve regulator capabilities and approval procedures by establishing an Earth Resources Approvals Coordinator, similar to the successful program utilised in the quarrying industry. This will simplify the regulatory landscape across departmental authorities, minimising overlap, and accelerate timescales and outcomes. It will also provide prospects for regional development in Victoria.
SXG Managing Director Michael Hudson said the Victorian Government’s recognition of the mining industry’s relevance in meeting Australia’s critical metals strategic goals in a commercial timeframe is welcome. Hudson stated that SXG is happy to be part of an industry ready to build Victoria’s essential and strategic projects to the highest environmental and social standards.
“We have a running start. Victoria is now producing more gold than it has for one hundred years. Historically and economically, antimony is the second most important metallic commodity in Victoria, after gold. Antimony is both critical and strategic and Victoria hosts significant antimony resources. However, not all of these resources are currently being extracted, with only 2% of global supplies coming from Australia, and more specifically Victoria. The establishment of an Earth Resources Approvals Coordinator to provide strategic project facilitation to help strategic mining projects navigate through the various array of Acts, regulators and tiers of government to deliver regional development opportunities in Victoria is a welcome development,” Hudson said.
“Our flagship project at Sunday Creek has the opportunity to become a significant gold project and potentially one of Australia’s largest antimony suppliers. Our project, amongst others in Victoria, provides the opportunity to regain a western antimony supply chain and change the dynamic of concentrate sales and smelting globally – with a direct positive impact for Victoria. A secure supply of critical metals is essential for the renewable energy transition. You cannot have one without the other,” Hudson added.
