The Victorian Government has released an action plan it claims will reinvigorate the State’s earth resources industry by streamlining processes, establishing a new single point of contact for investors and launching a major new investment attraction program.

State Energy and Resources Minister, Nicholas Kotsiras, said that the plan would be delivered with $19.2 million in funding through the State Budget.

“There is exciting potential for growth in the resources industry in Victoria, but more needs to be done to actively attract investors and to make sure that we make the most of the great opportunities we have in this State for the benefit of all Victorians,” Mr Kotsiras said.

The plan to boost the resources industry will see:

  • the creation of Minerals Development Victoria (MDV) to be a single point of entry for investors dealing with the Victorian Coalition Government;
  • the launch of a major investment attraction program, internationally backed up by cutting edge geoscience information;
  • the introduction of the annual International Mining and Resources Conference in Melbourne;
  • greater certainty for industry on approvals with the introduction of statutory timelines;
  • approvals processes streamlined to keep down costs while maintaining the same level of protection for the environment and communities; and
  • stronger stakeholder and community engagement to make sure communities get the facts about activities in their locality, their rights and the regulatory process.

Mr Kotsiras said the suite of reforms would help deliver greater certainty and more timely and cost effective decision making for investors.

“By cutting red tape without diluting environmental protections we can encourage new investment in Victoria and boost exploration activity to drive a new generation of resources projects in this State,” Mr Kotsiras said.