Saturday, 17 November 2012 14:11
The Association of Mining and Exploration Companies on Wednesday hailed the Federal Government’s $114 million funding commitment to Geoscience Australia as crucial “to find the mines of tomorrow”.
But AMEC chief executive Simon Bennison again called on Resources Minister Martin Ferguson to implement an Exploration Tax Credit model.
“It is vital State and Federal Governments continue to implement strategies that ensure there is a sufficient level of greenfields mineral exploration expenditure to find the mines of tomorrow,” Mr Bennison said.
“It is a great step forward to have funding committed to research which will enhance exploration data and AMEC is pleased to see the Federal Government has heard the requests made by AMEC and the industry.
“Exploration companies still, however, require capital investment to bring projects to fruition.
“More needs to be done now to encourage such investment flowing through to Australian exploration projects and AMEC again calls on the Federal Government to implement an Exploration Tax Credit model recommended in the AMEC policy platform.”
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