Successful tenderers of Victoria’s North Central Ground Release have been announced, set to create jobs in central Victoria and support local businesses from exploration investment.
The competitive tender process includes a special licence condition on indigenous engagement and raises the bar on community consultation.
The four blocks stretching from Fosterville east of Bendigo and north to Lockington sit in a highly prospective area, adjacent to the Fosterville gold mine, Australia’s third largest mine by production with the richest gold grade in the world in 2020.
Minerals Council of Australia Victoria branch executive director James Sorahan said with gold exploration at record highs, Victoria will reap the benefits of exploration.
He added that minerals exploration and mining created more diverse regional economies and offered more job and training options for young regional people.
Central Victorian explorers and mines employ more than 1,000 people in the region, paying $115 million in annual wages.
More than 590 local businesses are supported by local mines and explorers, with $48 million spent on local suppliers last year.