The Victorian Government is making changes to address delays in its environmental effects statement (EES) process, with plans to expedite approvals and support the state’s growing critical minerals sector.
Currently, more than half of all EES assessments take longer than 18 months, stalling projects and costing businesses millions.
To combat this, the Victorian Government has introduced reforms to sharpen assessment scopes, enhance environmental reporting, and fast-track public engagement through online and focused enquiries.
These changes are projected to cut approval times by 16 months on average, saving businesses $155 million annually in avoided costs and unlocking up to $240 million in major project investments each year.
Minerals Council of Australia’s executive director of Victoria James Sorahan said the amendments will put Victoria on the map as a supplier of strategic minerals.
“Victoria’s planning approvals process is cumbersome and far too slow, which leaves communities and investors in limbo,” he said. “These reforms send a strong signal that Victoria is open to investment.
“Victoria sits in the world’s largest known deposit of rare earths-rich mineral sands … and Victoria hosts Australia’s only antimony mine – a critical mineral essential to defence and battery technology.”
The approval reforms come as part of the Victorian Government’s critical minerals roadmap, which highlights the state’s vast mineral reserves and opportunities for growth.
State Minister for Energy and Resources Lily D’Ambrosio emphasised the industry’s importance in the transition to cleaner energy.
“Victoria is home to the rare minerals that we need to make things like solar panels – which is why we’re backing this incredibly important sector,” she said.
Victoria accounts for 39 per cent of Australia’s and 27 per cent of the world’s zircon reserves, and holds 51 per cent of the nation’s rutile and 22 per cent of its ilmenite.
These resources are essential for manufacturing wind turbines, electric vehicles, and rechargeable batteries.
The roadmap includes the creation of critical minerals priority development zones, providing certainty for industry and communities on mining locations.
The roadmap also aims to develop critical mineral processing and battery production industries, leveraging Victoria’s endowments to support extraction, recycling, and export opportunities.
With an estimated $200 billion worth of critical minerals, Victoria’s minerals industry is poised to support up to 7000 jobs while driving sustainable regional economic growth.
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