State Government Logo
< Budget Home

Delivering a rock-solid plan for Tasmania’s Resources sector

26 August 2021

Guy Barnett MP

Minister for Resources

The Tasmanian Liberal Government is securing Tasmania’s future by continuing to deliver our plan to invest in the jobs-rich mining and forest resources sector which is the lifeblood of many regional communities.

We know that mining and minerals processing is vital for our economy which is why the Tasmanian Budget 2021-22 delivers on our election commitment to extend our Exploration Drilling Grants Initiative (EDGI) until 2025, in addition to funding a refreshed Geoscience Initiative. Almost 60 mineral exploration projects have now been approved for support under EDGI which helps industry and investors identify new greenfield mining opportunities as well as now supporting exploration of existing mine or mining lease sites.

Tasmanian mining and minerals processing supports more than 5,600 jobs and contributes more than $2 billion a year into the State’s economy through exports alone. The sector provides a rock-solid base to further grow exports and support local jobs and $1.5 million has been committed in the Tasmanian Budget 2021-22 to extend the EDGI program until 2025 with applications for Round 6 grants expected to open late this year.

The Tasmanian Government is also supporting exploration with the Tasmanian Geoscience Initiative of $2 million over four years which is supported by up to $3 million through the Federal Government’s Exploring for the Future program led by Geoscience Australia.  This initiative will allow new geological and geophysical data to be collected and interpreted and existing data to be re-examined to help de-risk investment decisions and improve sustainable land-use planning throughout the State.

Tasmania’s resources industry is already taking positive steps to create supportive and inclusive workplaces for people from diverse backgrounds. To further strengthen this initiative, the Government is providing $300,000 to the Tasmanian Forest and Forest Products Network (TFFPN) and $150,000 to the Tasmanian Minerals, Manufacturing and Energy Council (TMMEC) respectively for the development of industry‑specific Diversity Action Plans.

The Government is also creating a new $10 million fund over five years to support more on-island processing and value adding of forestry products to deliver more jobs and protect 5,700 jobs currently supported by the sector.

The Budget includes a commitment of $1.15 million over three years to the Tasmanian Timber Promotions Board to value-add and promote Tasmanian timber products across the world, and we are investing $150,000 over three years to address skills shortages and train the industry leaders of tomorrow, working in partnership with Arbre Forest Industries.

The Tasmanian Liberal Government is securing Tasmania’s future with its plan to support the State’s resources sector with strategic investments to protect and grow jobs in regional communities.