NSW Mining welcomes Coalition incentives for explorers

September 03, 2013

NSW Minerals Council CEO Stephen Galilee has welcomed today’s commitment from the federal Coalition to introduce an Exploration Development Incentive targeted at small exploration companies.

“Over recent years investment in exploration has been falling in NSW. This new incentive should help increase exploration activity, leading to new minerals discoveries that will become the job-generating mining projects of the future.”

“Boosting exploration activity will help ensure the people of NSW can reap the benefits of investment, jobs and royalties that flow from a strong and vibrant minerals sector in this State.”

“NSW has some of the best minerals deposits in the world, and the more we know about them the better we can understand the opportunities they might provide.”

Mr Galilee also welcomed the re-affirmation of the Coalition to lower taxes, including the scrapping of the carbon tax.

“The carbon tax imposes economic pain on Australia for no environmental gain. It makes our industries less competitive, and it drives jobs and investment overseas. Abolishing it will improve investor confidence and help the NSW mining sector compete with our global competitors, delivering more local jobs, particularly in mining communities across regional NSW.”

“The Coalition’s commitment to reduce red and green tape for project approvals through a one-stop-shop is also a big step in the right direction. This can be achieved without any reduction in the high standards of environmental protection that apply in NSW,” Mr Galilee said.

This was once bi-partisan policy but unfortunately Labor’s commitment to this important initiative was dropped last year after pressure from their Greens partners in government,” Mr Galilee said.

In welcoming these policy initiatives Mr Galilee also noted the Coalition’s commitment to undertake a more positive approach to the sector in government than what has occurred over recent years.

“Mining has been used as a cash cow and political target over recent years. This has been detrimental to the industry in NSW, with flow-on economic costs. A new way is needed,” Mr Galilee said.

ENDS

Contact: Scott Keenan skeenan@nswmining.com.au or 0438 280 073

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