The report on resources sector regulation has identified ways that all levels of government can reduce red tape and other barriers to the resources industry’s development and investment.
The draft report contains 45 findings and 10 draft recommendations ahead of calls for further public submissions.
The productivity commission is investigating the best practice regulation of the sector across federal, state and territory governments.
It aims to ensure regulations are as streamlined as possible while still providing the necessary safeguards for Australian communities and the environment.
Pitt said that the resources sector is essential to Australia’s economic prosperity, particularly as the country feels the effects of the coronavirus pandemic on the economy.
“The Australian Government is committed to finding ways to help improve industry efficiency and Australia’s ability to compete globally,” Pitt said.
“This will ensure the industry is well placed to attract new investments that will help the Australian economy to bounce back following the current disruption.”
The Productivity Commission will call for feedback on the report before the government receives the final report during August.
“We will carefully consider the final report’s findings and recommendations and will work with state and territory governments through the Council of Australian Governments (COAG) process to exemplify best practice.
“If our resources sector remains world-leading, in terms of economic output and the environmental, workplace and community outcomes we model, it will continue to compete, grow and thrive to benefit all Australians.”
The Productivity Commission report draft can be viewed on the Productivity Commission website.