Maximise Australia`s Natural Resource Potential

5 October 2018

In the lead up to the next Federal election, the Association of Mining and Exploration Companies (AMEC) has released a Policy Platform in order to Maximise Australia`s natural resource potential.

“We are calling on the current Government and the Labor Party to commit to the several proactive and achievable recommendations contained in the Platform which are aimed at increasing exploration activity and reducing the cost of doing business,” said Warren Pearce, Chief Executive Officer, Association of Mining and Exploration Companies (AMEC).

“Without new discovery, Australia’s current production levels will begin to decrease, as existing mines exhaust their reserves and close. New mines are needed to sustain current production levels. Equally, new mine developments are needed to deliver increased employment and an economic dividend for the country.

“There still remains a tremendous opportunity throughout Australia to discover new mineral resources in large areas that have never been explored, or are under explored.

“The simple fact is that our level of discovery is dropping, and consequently our ability to develop new mines has significantly reduced.

“We need to be taking action now to increase greenfield minerals exploration for the benefit of future generations of Australians, and critical Government revenue streams. Research has shown that it takes on average around 13 years to go from discovery to production.

“These issues were brought to the attention of the Resources 2030 Taskforce created by the Minister for Resources, the Hon Senator Matt Canavan, with bi-partisan support.

“The Taskforce has recently released its recommendations on what must be done to ensure the Australian resource sector remains globally competitive and sustainable. We strongly support the recommendations, but it is critically important that they are implemented with bi-partisan support. It is pleasing to also note that many of AMEC`s suggestions have been recommended.

“We will continue to work closely with the Government and the Opposition to discuss what needs be done for Australia to grow its mining and mineral exploration industry. This recognises that a successful, sustainable and robust mining and mineral exploration sector creates jobs and economic and social dividends for the community, and should be a priority for our political leaders,” said Mr Pearce.