Guy Barnett,Minister for Resources
A strong partnership between the Australian and Tasmanian Governments is delivering funds to improve mining operations, exploration, mineral discovery and land use planning.
Tasmanian mining and minerals processing supports more than 5,600 jobs and contributes more than $2 billion a year into the state's economy through exports alone.
The Tasmanian Geoscience Initiative of $2 million over four years is supported by up to $3 million through the federal Exploring for the Future program led by Geoscience Australia.
It will allow new geological and geophysical data to be collected and interpreted and existing data to be re-examined to help de-risk investment decisions and improve sustainable land-use planning throughout the state.
This program will help take much of the guesswork out of finding minerals and reduce the financial risk of investment by determining how likely a particular commodity may occur in any particular place.
This funding allows us to extend and expand the program to more strategically target mining opportunities to make sure we are extracting the best and most in-demand minerals in the most appropriate locations.
The first stages of the program are already contributing detailed geotechnical information towards both investment and land use planning decisions right across the State.
Importantly, by having a better idea of what is under the ground and where to find it, we can bring in more dollars for our mineral assets which flows straight back through royalties and fees into local communities and supports local jobs.
Already being developed through the program are new geological maps which will help industry operations and contribute to land use planning decisions and the management of landslide risks.
This funding boost also supports ongoing airborne geophysical surveys in central and eastern Tasmania, the installation of a long-term seismic monitoring network, ongoing 3D geoscience modelling, and the collection of geophysical data on the magnetic, radiometric, electrical and gravimetric characteristics of Tasmania.
Increasing the value of mining operations also boosts investment in exploration and supports regional jobs and communities.
