25/02/2009 - 22:00

Incentives a boost for mining juniors

25/02/2009 - 22:00

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TWO peak mining industry bodies have applauded the state government's announcement of an $80 million minerals exploration incentive, to be delivered over four years.

TWO peak mining industry bodies have applauded the state government's announcement of an $80 million minerals exploration incentive, to be delivered over four years.

Minister for Mines and Petroleum Norman Moore announced the package to increase mineral exploration in WA at the opening of the RIU Explorers Conference last Tuesday.

Association of Mining and Exploration Companies chief executive Simon Bennison said WA had lagged behind other states and countries, such as Canada, in providing incentives.

He said it was good to see the state government identifying the need to invest.

"Public investment in exploration will pay off for Western Australians for generations to come," Mr Bennison told WA Business News.

Mr Bennison said the incentives would have a definite flow-on effect for regional communities.

"It will be a huge boost to the regions, especially for companies in areas where they're proving up new ground," he said.

North West Iron Ore Alliance chief executive Justin Walawski said the incentives would improve Western Australia's reputation as an exploration state and would shore up better diversity in supply lines and infrastructure.

"At the end of 2008, the state's reputation for encouraging mineral explorers was well behind competitors," Dr Walawski said.

"To attract companies and to convince them that things are different in WA, that there are mechanisms to encourage explorers to come here is an important step in addressing that problem," he said.

"It also means we can start to shore up a better diversity in supply lines and infrastructure.

"We have a large dependence on some major companies and if we can alleviate that without hurting those companies then that's better for the state."

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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