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Australian miners welcome exploration funding

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World Coal,

The Australian mining industry has welcomed the government’s allocation of AUS$100 million to Geoscience Australia to undertake pre-competitive geological mapping of mineral deposits as part of its Exploring for the Future programme.

“Exploration geoscience must be central to the nation’s innovation agenda,” said Graham Short, National Policy Advisor at the Australian Association of Mining and Exploration Companies (AMEC).

“Australian has a competitive advantage in resource development and must seize the opportunity for science and innovation, together with vital new capital investment in exploration, to improve discovery rates in Australia.”

“It is pleasing the Turnbull Government has an eye to high-tech jobs of the future in the resources sector by delivering a AUS$100 million exploration programme, Exploring for the Future, which is set to benefit Queensland, by helping to find the next wave of new mines,” Chief Executive of the Queensland Resources Council (QRC) said in a statement.

“Exploration is the R&D, or building blocks, for the resources sector, getting the sector ready for the inevitable future upswing” Roche concluded.

AMEC also called on the government to consider its tole in unlocking resources that are “stranded” sure to a lack of infractructure, approvals delays of access to finance.

“The government’s AUS$50 billion infrastructure development plan to 2019/20 is a great investment for growth and jobs but it mainly focuses on capital cities rather than critical economic producing regional infrastructure, which could release stranded mineral projects and generate revenue streams for the nation, and in regional communities,” concluded Short.

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