MCA welcomes the Federal Opposition’s commitment to invest $75 million in Geoscience Australia’s Exploring the Future initiative.
Australian mining and minerals processing is the nation’s largest source of export revenue and provides highly paid, highly skilled jobs to thousands of workers in regional communities.
Investment in pre-competitive geoscience exploration is essential in building a pipeline of mining projects that will deliver jobs in the minerals sector across regional Australia into the future.
This commitment will fund vital data acquisition using geophysical surveys, geochemical sampling, hydrological mapping and stratigraphic drilling.
The data collected will be analysed and integrated to provide a comprehensive picture of Australia’s mineral, energy and groundwater resources, which will support investment decision making allowing Australian companies to expand commercial opportunities and create more jobs.
Australia faces growing competition to attract the international capital the resources industry needs to convert our minerals potential into lasting economic benefits.
Commitments like those announced today are consistent with MCA’s The Next Frontier: Australian Mining Policy Priorities, which outlines a plan for the minerals sector to continue to invest and grow with confidence, supporting regional communities and a more prosperous Australia.