In an official communique, government officials said they will explore regulatory best practices, both in Australia and globally, to help reduce costs for businesses while maintaining strong controls.
According to the Commission, the development of this sector in Australia is constrained by a large number of state and federal regulations, especially in the area of environmental permitting.
While resource exports hit a record $ 278 billion in fiscal 2018-19, we cannot take this success for granted. It is harder than ever to start developing new resource extraction projects, limiting future expansion of the sector and driving up the cost of jobs across Australia, "said a media statement.
According to the government department, the main goal of the proposed study is to provide a transparent and effective assessment of resource development projects while adhering to reliable environmental standards. This work is expected to help amend the 1999 Law on Environmental Protection and Biodiversity Conservation, which is scheduled for revision in October 2019.
Following this announcement, the Mineral Resources Council of Australia (MCA) issued a statement noting the importance of the proposed study given that mining companies have experienced significant project approvals in recent years.
“The mining industry does not want to detract from environmental safeguards or standards, but a more efficient process is needed to achieve regulatory goals,” said Council CEO Tanya Constable.
