Funding to safeguard quarry materials and support minerals sector

The Victorian Budget 2019/20 was handed down on Monday 27 May.

New funding will help access to the state’s quarry resources, nearer to where it is needed most. This work is focused on helping keep the cost of new infrastructure and housing down.

Transporting heavy materials, such as rock, sand and stone, is expensive and if the distance between quarries and build sites increases then infrastructure will be less affordable. On average building raw materials make up 35% of construction costs and up to 40% for major roads.

Our work to support new infrastructure and housing is outlined in the Extractive Resources Strategy.

New funding will also support our growing minerals exploration and mining sector, ensuring communities can have confidence in responsible development. It will also focus on encouraging innovation in the broader Mining, Equipment, Technology and Services (METS) sector.

Our work to support the minerals and METS sectors is outlined in the Minerals Resources Strategy.

The Victorian Budget 2019/20 also flagged the introduction of a gold royalty from 1 January 2020. This will mean those with a gold production of over 2,500 ounces a year will be subject to the same royalty as other minerals, except coal, of 2.75 per cent.

Licensing fees and charges includes information about current (2019) royalties.

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