National resources policy the key to improving Australia's resources exploration

31/10/02
The lack of a national mineral and energy policy is a major impediment to reversing the decline in mineral exploration in the Australian resources industry, according to State Development Minister Clive Brown.

The need for a national policy to recognise the strategic nature of Australia's mineral and petroleum resources is one of the key recommendations in Western Australia's detailed submission to the Commonwealth Government's Prosser Inquiry into resource exploration impediments.

Mr Brown said the implementation of a national resources and energy policy would provide a clear direction on national exploration policy and act as the first phase needed to stimulate the discovery and continued development of our national resources endowment.

"It would provide the long-term strategic direction that is currently lacking from Australia's Commonwealth Government," he said.

WA currently accounts for more than 48 per cent of the nation's mining and petroleum production, more than 60 per cent of its mineral exploration investment and 70 per cent of petroleum exploration investment.

"Our State is clearly the major contributor to the nation's resources industry," Mr Brown said.
"Therefore, the continued and sustainable development of Australia's resources industry is a high priority for the State Government."

Resources exploration and production also currently accounts for 23 per cent of the State's gross State product.

One key mechanism for boosting resource exploration investment, as outlined in the submission, is the continued public provision of geoscientific data.

"For Australia to remain globally competitive to resource exploration investors, a national approach to funding geoscientific data and research is required," the Minister said.

"Otherwise, resource exploration investment will continue to dwindle and lead to significant falls in new discoveries, which in the long-term will reduce Australia's national strategic mineral and petroleum assets and natural competitive advantage."

The Western Australian Government's submission to the Prosser Inquiry includes recommendations contained in the:

• Keating Review into State approval processes;
• Fardon Review into Geological Survey of Western Australia funding;
• Macfarlane Review into mineral tenements and land title applications in WA; and
• Wand Review into the native title calm process in Western Australia.