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Victorian Government allocates $2m to support quarries

The Victorian Budget 2022/23 has announced that $2 million will be set aside to streamline minerals and extractives regulation.

The Victorian Budget 2022/23 has announced that $2 million will be set aside to streamline minerals and extractives regulation in order to help quarries provide affordable materials for infrastructure and housing projects.

The budget also includes $7.4 million in funding to search for and develop rare earths and minerals critical to manufacturing renewable energy components and a range of other advanced manufacturing sectors.

The Victorian Budget outlines that “funding is provided to support Victoria to reform the regulatory framework for mining and extractives activities. This will encourage investment by industry, reduce the cost of extractive materials and support additional employment in the resources sector.”

The production of minerals and extractives also ties into the Government’s objective to be a globally connected economy.

“Supporting investment in resources and low emission technologies, the Department fosters innovation, productivity, jobs and trade in the State’s earth resources sector,” the State said in its Budget Paper No.3.

“Through strategic resource and related land use planning, new opportunities are able to be identified for Victoria’s earth resources, along with supporting major infrastructure development in the State.”

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