The Chamber of Minerals and Energy of Western Australia (CME) welcomes the release of the Economic Impact Study into the Western Australian Government’s successful Exploration Incentive Scheme (EIS).
“With exploration expenditure falling in Western Australia, CME is pleased the economic benefits of the EIS, including the Co-Funded Drilling Program have been verified by independent consultants at ACIL Allen Consulting,” said CME Chief Executive Reg Howard-Smith.
In recent times, the resources sector has been dealing with the twin challenges of both the high cost of doing business and volatile commodity prices. In an internationally competitive environment, CME has been urging Government to have policies in place to attract investment and promote economic development and to that end, the EIS delivers.
It is worth noting major projects such as Chevron’s Gorgon and Wheatstone LNG plants, along with the Roy Hill Iron Mine will soon finish construction. Western Australia’s priority must be attracting the next wave of significant investment.
“The future pipeline of resources projects relies upon an increase in the current level of exploration activity here in Western Australia,” said Mr Howard-Smith.
“The Western Australian Government and the Department of Mines and Petroleum deserve congratulations for the EIS initiative and the tremendous economic benefit it returns to our community,” said Mr Howard-Smith.
“Exploration is the lifeblood of future industry. Every resources project starts with a discovery and it’s great the Government recognise its importance,” said Mr Howard-Smith.
