PERTH (miningweekly.com) – The resources sector has welcomed the Western Australian government’s release of its Resources Development Strategy, which outlines six priorities and focuses on policy to streamline approval processes, promote investment opportunities, and a commitment to continuing to support the successful Exploration Incentive Scheme (EIS).

“Western Australia’s mineral and petroleum resources development strategy demonstrates the government’s policy priorities that are designed to uphold our reputation as one of the world’s most advanced and successful resources sectors,” said Mines and Petroleum Minister Bill Johnston.

“In an uncertain world, one thing that can be counted upon is the continuing demand for Western Australia’s resources.”

“The government is committed to ensuring a best-practice regulatory framework remains in place to ensure the responsible and sustainable development of our state's resources,” Johnston said.

“We expect demand for Western Australia's minerals to continue to grow, driven by the global transition to a low carbon future and an increasing demand for electric vehicles. 

“Western Australia's mining and petroleum industries' timely response to the pandemic enhanced our global reputation as a reliable supplier and maintained our position as the engine room of the national economy.” 

The mineral and petroleum resources development strategy focuses on capitalising on the state's natural resources to drive a diversified economy, support the regions and encourage sustainable development.  

Policies such as investing in regional areas, co-funding exploration, streamlining approval processes, and promoting entrepreneurship and investment opportunities feature prominently. 

These actions will ensure Western Australia's mining and petroleum industries continue to provide outstanding economic and social benefits to the community well into the future, said Johnston.

The Association of Mining and Exploration (Amec) has welcomed the release of the strategy, with CEO Warren Pearce saying that on the back of promising discoveries, interest in Western Australia’s mineral prospects was steadily increasing, reflected in the continued popularity and availability of programmes like the EIS.

“Amec has been advocating for cutting red tape and streamlining the process for opening new mines and it is excellent to see the government making this a priority. New mines mean many new jobs, and wider benefits for the state,” said Pearce.

The strategy also focuses on diversifying the resources industry through growing the critical minerals industry.

“Following exponential growth in global demand for renewable batteries and other downstream critical minerals offerings, governments are seeking to diversify and expand our local supply chains; these projects need the support of government through policy like the Future Battery and Critical Minerals Industries Strategy, which this strategy prioritises.”

“The Western Australian mining industry has continued to perform strongly during a global pandemic, and this strategy shows how critical the mining and mineral exploration industry is for the state to continue to provide benefits for all Western Australians,” said Pearce.

The Chamber of Minerals and Energy (CME) of Western Australia, also said that in order to maintain its status as a world leader, it is vital that industry, government and communities continue to collaborate to unlock the potential of the A$140-billion of projects currently in the sector’s pipeline in Western Australia.

“It’s also crucial that our sector has access to the right people, with the right skills, at the right time to capitalise on the considerable opportunities in front of us,” said CME CEO Paul Everingham.

“I note that one of the priorities outlined in the strategy is around an industry that is efficiently and effectively regulated. This is something CME and its member companies have a keen interest in and we look forward to seeing more tangible progress from the state government’s Streamline Western Australia initiative.

“We want to see meaningful deregulation and removal of duplication across a variety of policy areas, to provide strong incentives for mining and resources companies to make efficient large-scale investments that drive our sector.

“These investments have powered Australia’s economic recovery from Covid-19 to date and its essential they continue to do so in the future.”