INQUIRY INTO GREENFIELDS MINERAL EXPLORATION AND PROJECT DEVLOPMENT IN VICTORIAN

The Victorian Minerals industry has the potential to continue to be an important contributor to Victoria?s growth, particularly in regional and rural Victoria. For the sustainable future of the industry, the policy and regulatory framework must be balanced between promoting investment in the State, good practice and the expectations of the community in an efficient way with a minimum but appropriate level of direct control of economic agents by government authorities. Over recent years the State has lost market share in minerals activity to other states and is no longer seen as prospective or an attractive place to invest. However, the substantial contribution of the mining sector to Melbourne?s economy is indisputable.

BARRICK KANOWNA BELLE / KCGM COMBINED EMERGENCY RESPONSE TEAM WINS 19TH ANNUAL UMRC

Western Australia?s Barrick Kanowna Belle/KCGM Combined Mine Emergency Response Team has narrowly defeated five other teams from across the country to win the prestigious Annual Victorian Underground Mine Rescue Competition, proudly sponsored by Orica Mining Services. In one of the closest results in the competition history, less than 3% separated the first five teams in the Overall Competition category. Second place went to Northgate Fosterville Gold Mine, with Newcrest Cadia Valley Operations in third place.

Industry Comments – Mineral Royalty Guidelines

As you’re aware the Minerals Council of Australia represents Australia?s exploration, mining and minerals processing industry, nationally and internationally, in its contribution to sustainable development and society. MCA?s member companies produce more than 85 percent of Australia?s annual mineral output. Northern Territory members comprise more than 100 individual mining, exploration and service support companies operating in the jurisdiction and comprise 25 percent of the Territory?s gross state product, employing more than 4,600 people.

MINERALS INDUSTRY TO PAY A RECORD $23.4 BILLION IN TAXES + ROYALTIES: 2010-11

The minerals industry is expected to pay a record $23.4 billion in taxes and royalties to Federal and State Governments in 2010-2011 new research from Deloitte Access Economics (DAE) shows. Minerals sector company tax is expected to reach $14.6 billion in 2010-11, exceeding the previous peak of $13.2 billion in 2008-09 and 42 per cent above average company tax payments of the previous three years.

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