PERTH (miningweekly.com) – The Victorian government is investing an additional A$1.1-million to process mineral licensing applications to allow exploration in the region to continue.
Resources Minister Jaclyn Symes said on Thursday that minerals exploration spending in Victoria is currently six times higher than it was in 2015 and showed no sign of slowing down, with spending during the June 2020 quarter surpassing the March quarter as the new highest quarterly mineral exploration expenditure ever recorded in Victoria.
Underpinning this growth were world-leading geoscience programs and the Geological Survey of Victoria's estimate that around 75-million ounces of gold are yet to be found across the state.
“We’re backing the resources sector to help our economy recover by funding additional staff to help process all the applications we have to search for more gold and other in-demand minerals,” Symes said.
“Victoria’s wealth was built on gold – mining not only played an important role in our past but will also be critical to our future prosperity and the creation of high value jobs for our regional communities.”
Earth Resources Regulation currently has over 350 live applications for new minerals licences, renewals, transfers and variations. In 2018/19 the regulator received less than 100 new applications for the whole year.
A land access tool launched last year is available to help conversations between explorers and landholders, the Minister added.