While the government has repeatedly said it was open to the industry, and AMEC has seen a renewed sense of urgency from the Division of Resources & Energy under Anthony Roberts, much more needs to be done to demonstrate this, AMECO CEO Simon Bennison said.
“AMEC calls on the New South Wales government to remove regulatory costs and threats of greater environmental sanctions,” he said.
“It is essential to incentivise greenfield exploration and provide regional infrastructure to unlock the state, to grow the mineral mining and exploration industry to support long-term government revenue streams.”
Meanwhile AMEC was full of praise for Queensland Natural Resources and Mines Minister Andrew Cripps who has vowed to reform the Queensland resources sector by cutting red tape in order to attract big investment to the state.
Queensland is set to become the leading Australian state for resource exploration investment, according to Cripps.
Bennison said: “Queensland now has an opportunity to promote itself as a destination for exploration investment. By showing support for the exploration sector, the Queensland government is investing in a strong and prosperous future for the state’s mining sector.
“This will provide jobs and investment, and government revenue streams for the benefit of all Queenslanders.”
Bennison said AMEC is pleased to see that NSW funding for the Geological Survey of NSW has been maintained to carry out work on the Londonderry Core Library. These funds were raised by additional taxes placed on the industry two years ago – the New Frontiers Levy and administrative levies – to pay for core government activities.
“However, it is concerning that the worthwhile co-funded drilling program has not been committed in the Forward Estimates,” he said.
“The budget also shows that the NSW government is still dependent on $1.6 billion in projected mining royalties to fund the Royalties for Regions program and much of the additional funding dedicated to the State’s Environmental Protection Agency.
“While the government should be commended for handing down a solid budget forecast that seeks to boost economic growth, it must be noted that the government revenue forecasts are dependent on household consumption and housing investment, rather than business investment that will grow the state’s revenues.”
