VICTORIA

Critical Minerals Roadmap

First announced in the 2022 State Budget, the Victorian government has now introduced its Critical Minerals Roadmap as part of the Economic Growth Statement.  As part of the roadmap, the Government will also create Critical Minerals Priority Development Zones, which will create “certainty for industry and regional communities about where mining can occur.” These will be administered through the establishment of a Victorian Critical Minerals Coordination Office.

The roadmap will also consider critical mineral processing and battery production including downstream processing opportunities, energy storage product design, production and recycling for local and export markets and is intended to be a live document that will be reviewed at regular intervals. The government has estimated Victoria’s critical minerals endowment worth in the order of $200 billion and could support up to 7,000 jobs.

RVAC Funding Extended

Building on its success at removing the backlog of licence approvals, Resources Victoria Approvals Coordination (RVAC) will be funded through to 2027 with a focus on critical minerals. This includes support for work plan approvals, licence renewals, and guidance in developing applications.

Environmental Effects Statement Reviews Shortened

Changes to the Environmental Effects Statement (EES) process will target an assessment review of no longer than 18 months, down from a current average of three years.

This will include sharper assessment scopes, better utilisation of Environmental Reports, more support for applicants, and speeding up the public engagement process by facilitating online engagement and more focused public inquiries and engagement phases. 

These reforms are expected to reduce the approval times for project proponents by an average of 16 months, saving businesses an estimated $155 million per year in avoided costs. And up to $240 million in additional major project investment per year could be brought forward through faster assessments, enabling more EES projects to be considered.

Regulator Numbers to be Halved

The government has announced it will halve the number of business regulators from 37 to 18 by 2030 through combining regulators and streamlining systems for industry and making it easier for industry to work with government, offering clearer points of contact, less paperwork and fewer processes.

Improvements to Rehabilitation and Rehabilitation Bonds

Resources Victoria is implementing a comprehensive regulatory practice strategy to progressively improve the quality of rehabilitation plans and set contemporary rehabilitation bonds. Transitional measures are available to industry, which may be applied to assist in the reduction of a site’s rehabilitation liability.

The Victorian Minister for Planning has given EES approval to the first mineral sands mine projects in the State since 2008: VHM Limited’s Goschen Rare Earth and Mineral Sands Project and WIM Resources Avonbank Mineral Sands Project with conditions.  

Further approval is still required for a mining licence and a mine work plan which will involve consultation with the community. The projects also require EPBC approval from the Commonwealth.

AMEC Advisory Committee Meeting

The Victorian Advisory Committee met on 4 December to discuss member concerns and advocacy focal points for the year ahead.

AMEC End of Year Function

AMEC held its well-attended End of Year function for our Victorian members on 4 December.

TASMANIA

Critical Minerals Strategy

In November, The Tasmanian Government announced the release of its long awaited Critical Minerals Strategy with a $3 million investment to accelerate its development. The strategy focuses on identification of new mineral reserves to drive investment and development of critical mineral processing and value-adding capacity in Tasmania for the best possible return.

The main objectives of the strategy are:

1. Grow exploration for critical minerals
2. Support critical minerals projects
3. Increase on-island processing and value-adding of critical minerals
4. Increase Tasmania’s trade and investment footprint in critical minerals

AMEC has been a strong advocate for the formulation of a critical minerals strategy for Tasmania that recognises and promotes the unique exploration and project development opportunities in the State and looks forward to working with the government and our local members in realising the benefits to all stakeholders of this important initiative and industry.

New Chief Government Geologist appointed

The Tasmanian government announced the appointment of Dr Rebecca Sproule as Chief Government Geologist to lead Tasmania’s Geological Survey.  Dr Sproule studied geology at the University of Tasmania, as well as in Victoria before embarking on a successful global career and is currently a Principal Geoscientist for Rio Tinto based in Utah. 

Dr Sproule takes over from Dr Andrew McNeill who retires this month after more than a decade at Mineral Resources Tasmania.

To learn more please contact Stuart Glazebrook on 0402 216 835.