Earth Resources Regulation has postponed all rent and annual fees for quarries in Victoria until the start of next year.
The announcement will see $3.5 million in rent and annual fees deferred until January 2021 to allow the quarrying sector’s cashflow to bounce back from COVID-19.
According to a Victorian Government statement, the quarrying sector is “vital” for providing aggregates to fuel the recently announced $2.7 billion Building Works package.
“Businesses in our resources sector have done a fantastic job in keeping the industry operating – this is a practical way that we can ease the pressure on them and help keep people in jobs,” Victorian Minister for Resources Jaclyn Symes said.
“Ensuring that our quarry sector can continue to grow and invest means it supports local jobs, communities and our infrastructure agenda.”
This follows the state government’s previous announcement that fee increases for quarries will be frozen from July.
Cement Concretes & Aggregates Australia (CCAA) chief executive officer Ken Slattery has welcomed the state government’s support for quarrying businesses.
“The battle against COVID 19 has been costly, with more than 100 Australians having lost their lives, large parts of the economy placed in lockdown, and hundreds of thousands of jobs having been lost,” he said.
“But as the health implications of the pandemic decline, the focus is shifting towards how Australia can recover economically.
“The Australian construction sector is an essential component of the national economy, accounting for about 10 per cent of our GDP, and employing over 1.2 million people across the country, many of them, small business owners.”
The rent freeze also extends to mines and exploration companies in Victoria.