Pro­grams to ease fi­nances

Kalgoorlie Miner - - NEWS - Tyne Lo­gan

Min­ing and Ex­plo­ration’s peak body is en­cour­ag­ing ex­plo­ration com­pa­nies to ap­ply for govern­ment-as­sisted in­cen­tive pro­grams when el­i­gi­ble, to make the most of fi­nan­cial ben­e­fits.

Pro­grams flagged in­cluded the Ex­plo­ration In­cen­tive Scheme, a $130 mil­lion ini­tia­tive aimed at in­creas­ing the pri­vate sec­tor re­source ex­plo­ration, and the Ex­plo­ration De­vel­op­ment In­cen­tive.

As­so­ci­a­tion of Min­ing and Ex­plo­ration Com­pa­nies chief ex­ec­u­tive Si­mon Ben­ni­son said tak­ing full ad­van­tage of the pro­grams was cru­cial in as­sist­ing ex­plo­ration com­pa­nies’ fi­nan­cial woes.

“The State Govern­ment con­tin­ues to demon­strate its com­mit­ment to en­cour­ag­ing in­vest­ment in the min­er­als sec­tor through the Ex­plo­ration In­cen­tive Scheme which in­cludes the core li­brary, com­pet­i­tive geo­science data and co-funded drilling pro­grams,” he said.

“The co-funded drilling pro­gram must con­tinue to be funded be­yond the 2016-17 State Bud­get to pro­vide cer­tainty for in­vest­ment de­ci­sions.

“The State Govern­ment’s com­mit­ment to re­duce red tape and stream­line ap­provals pro­cesses has been wel­comed and should be ex­pe­dited in or­der to re­alise the ben­e­fits,” he said.

He said green­fields min­eral ex­plo­ration was at his­toric lows and ac­counted for just 22 per cent of to­tal min­eral ex­plo­ration me­tres drilled in the Septem­ber 2015 quar­ter.

Mr Ben­ni­son said AMEC was work­ing with the Aus­tralian Tax­a­tion Of­fice and Fed­eral Trea­sury to make in­cen­tives even more at­trac­tive to ex­plor­ers and in­vestors.

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