Victoria Approves Mining Sector Reforms to Promote Renewable Energy Goals

The Victoria Labor government is reforming the mining sector in hopes of bolstering the state’s “ambitious renewable energy agenda.”

The move is a part of the government’s renewable energy and storage target of 50 percent by 2030 in a state that’s largely reliant on ‘brown coal’ for its energy. Ultimately, Labor is looking to meet a 95 percent renewable energy generation goal by 2035.

The Minerals Resources (Sustainable Development) Amendment Bill, which passed the Victorian legislature last week, will update the ‘work approvals scheme’ costing a budgeted $23.2 million.

Related Stories

The government says it will focus regulatory efforts on ‘higher risk sites and activities’ while reducing red tape for more standard changes.

“These changes will help deliver the materials we all need while maintaining protections for communities and the environment,” Minister for Energy and Resources Lily D’Ambrosio explained.

“We’re supporting our growing mineral resources sector to get the job done, as our state demands more rock, sand and critical minerals to build new homes, hospitals, schools, transport and renewable energy infrastructure.”

The reforms will be implemented in July 2027, giving time for consultation with industry, local government, environmental groups and communities, the government said in a press release.

Concerns Communities Will Be Left Out of Consultation

Victorian Greens deputy leader Ellen Sandell has previously spoken out against the amendment bill citing concerns about communities being left out of the regulatory process.

However, Labor says Victoria can be a leader in the “renewable energy supply chain.”

“Our extractive materials will be in high demand to continue building the infrastructure we need all across the state,” says the government.

One potential player in the industry, Iluka Resources Ltd, has plans to develop the Wimmera Mineral Sands project in the Victoria Murray Basin. The deposit contains approximately 200 million tonnes of heavy mineral sands ore, according to the state government.

“The rare-earth-bearing minerals within the Wimmera deposit are very similar to the stockpiled minerals at Eneabba and could supplement feed to Iluka’s potential downstream refining activities at Eneabba in future years,” Iluka said on their website.

Gippsland Critical Minerals is also developing the Fingerboards Critical Minerals Project in the Glendale Deposit. The company says, “the project will be one of the world’s major producers of rare earths, zircon, ilmenite and rutile—minerals essential to renewable energy, technology, transport and communications.”

They also said the $200 million project will create up to 200 direct jobs.

Source link