Victoria Invests $31.7 million to strengthen Victoria’s earth resources sector

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Image courtesy of [dan] / FreeDigitalPhotos.net

The Victorian Coalition Government has announced yesterday it will spend $31.7 million over four years on programs to build a strong, safe and sustainable mining industry.

Image courtesy of [dan] / FreeDigitalPhotos.net
Image courtesy of [dan] / FreeDigitalPhotos.net

Energy and Resources Minister Nicholas Kotsiras has revealed that more than $19 million of the funding, announced in yesterday’s 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. 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.” Mr Kotsiras said.

Yesterday’s announcements is set to strengthen Victoria’s mining industry, with the aim to help build for growth across rural and regional Victoria.

Mr Kotsiras  believes the 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 is said to be released soon.

‘A further $4.2 million will be spent to address mine stability risks at major coal mines in the Latrobe Valley. The funding will also 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,’ (vic.gov.au).

The Coalition Government has also announced that it will be 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.