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Labor again says yes to flow through scheme

LABOR has again committed to introducing a flow through share scheme to assist the exploration sector, the second time it has done so in the last nine months.

Michael Quinn

In Kalgoorlie today, Labor's shadow minister for mining Joel Fitzgibbon and the local candidate Kevin Richards again said a Latham labor government would work with the industry and other stakeholders to develop a workable flow-through share scheme.

The announcement said the scheme would be appropriately targeted at small and independent exploration companies and "not open to abuse".

Fitzgibbon told MiningNews.net that details of the scheme would be provided before the next Federal election.

Today's announcement said that discovering new deposits was crucial to the sustainability of the mining sector and that a failure to do so would lead to massive job losses in regional communities.

Exploration expenditure has been on a steady decline for much of the last decade, though improved commodity prices and the consequent return of investors to the sector suggests the trend has been turned around in more recent times.

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