The Victorian Government's announcement to establish a Royalties for Regions program directing all minerals royalties to regional Victoria adopts the Minerals Council of Australia's policy of securing a fair deal for regional communities.
Royalty reinvestment enables the mining sector to support more investment in regional Victorian communities.
Victoria's minerals industry has previously called for royalties paid by mining companies to be returned to regional areas to fund better roads, schools and hospitals.
Mining is a proud regional industry employing and training regional Victorians, supporting local suppliers through buy local policies and investing in community support to the tune of $570 million per year.
With around $150 million in royalties being paid in Victoria currently, investing royalties in the regions will add to the positive economic impact of Victoria developing its rich endowment of gold and critical minerals.
Strategic investment in regional infrastructure will help address the big challenges regional industries and communities face from roads to shortage of trades skills and lack of childcare and healthcare options.
Victoria's mining industry will work with local communities and government to ensure community and council consultation and co-design so communities have a say and a stake in the program.
