Victoria will release 18,000sq kms of new exploration acreage in Bass Strait to address the south-east Australian gas crisis, Victorian Treasurer Tim Pallas told the International Mining and Resources Conference in Melbourne today. The acreage is near the Otway Basin.
Federal Government’s failure to act on its own report — was proving a model to other states.
Opening the conference, Mr Pallas said the new acreage would support the $42.5 million Victorian Gas Program which – despite what he described as the
Mr Pallas, also Victoria’s Minister for Resources, said gas developments would further strengthen the contribution resources make to keeping Victoria as Australia’s strongest economy. This is underpinned by the employment and investment that flows from Melbourne’s role as the headquarters for leading resource companies and is augmented by research, training and technical services worth hundreds of millions of dollars a year.
Now physical developments, such as the upgrading of the Fosterville Gold Mine to a probable $1billion-plus gold deposit, new gold finds and increasing interest in copper prospects, were leading to a rejuvenation of mining and exploration activity in Victoria.
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