Victoria has recorded record minerals exploration expenditure according to the Australian Bureau of Statistics (ABS) report released today.
In the March 2021 quarter, $51.5 million was spent on minerals exploration in Victoria. This comes on the back of a record December 2020 quarter, with over $150 million spent on exploration in the state in 2020.
James Sorahan, Executive Director MCA Victoria, said minerals projects play an important role in regional development in Victoria.
“Exploration and mining creates high paying jobs and supports a supply chain of innovative small and medium-sized businesses,” Mr Sorahan said.
“Victoria’s gold mining sector employs regional Victorians from geologists and geophysicists to chemists and field assistants.”
“Exploration creates a pipeline of new gold projects to support Victoria’s growing gold mining sector employing thousands of workers, particularly in the Bendigo region, and in mines in Ballarat and Stawell,” he said.
“Victoria’s exploration and mining industry has a bright future and is critical to support more diverse regional economies.”