The Victorian Government is hoping to ramp up minerals licenses across the state to bolster the state’s economy as it recovers from the economic impact of COVID-19.
The $1.1 million will assist in processing mineral license applications, with the state government also recruiting extra assessment staff to deal with the processing increase.
Victoria’s Earth Resources Regulation currently has more than 350 live applications for new minerals licenses, renewals, transfers and variations.
“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,” Victorian Minister for Resources Jaclyn 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.”
Gold production was up by 55 per cent in Victoria between 2018-19.
Victoria’s mineral exploration expenditure is six times higher than in 2015, with spending in the June 2020 quarter recording the highest quarterly mineral exploration spending in the state’s history.
According to the state government, Bendigo company Deepcore Drilling has quadrupled its employment levels from 2018, and is planning to employ 120 more people in 2021.