|Work Stream:||Exploration Investment and Geoscience|
|Council Priority Issue:||2. Addressing issues impacting on investment in resources exploration and development, including land access, community, infrastructure, and labour.|
|Project:||National Exploration Strategy|
|Key Documents:||Report – Levers to Improve Australia’s Global Position for Attracting Resource Exploration Investment (June 2012) (PDF / Word)
National Mineral Exploration Strategy (December 2012) (PDF)
Mineral Exploration Investment Attraction Plan (December 2012) (PDF)
|Overview:||At its 8 June 2012 meeting, SCER considered the report Levers to Improve Australia’s Global Position for Attracting Resource Exploration Investment and agreed to develop a National Mineral Exploration Strategy to address Australia’s greenfields exploration challenge. The Strategy includes a renewed commitment to pre-competitive geoscience in all jurisdictions, a mineral exploration investment attraction plan, and a national Geoscience Research Initiative.The objectives of the mineral exploration investment attraction plan are to promote Australia to make it the preferred destination for investment in exploration, and to advocate opportunities in covered greenfield areas|
|Background:||At the 9 December 2011 SCER meeting, Ministers discussed recent statistics that revealed mineral exploration expenditure to be at record national levels; however, while Australia’s overall international competitiveness has remained relatively stable in recent years, this follows long-term, consistent decline in Australia’s share of global exploration expenditure. Ministers stressed the importance of continued support for investment in exploration in Australia and consistent with the report of the Policy Transition Group, agreed that addressing Australia’s declining share of international resource exploration expenditure remained a key priority on SCER’s forward work plan.
Consequently SCER tasked its Exploration Investment and Geoscience Working Group with the development of an options paper on levers that may be used to improve Australia’s global position for attracting resource exploration investment. The terms of reference for the options paper did not include fiscal or regulatory reforms that may improve Australia’s investment climate for resources. The options paper will also be submitted to the Productivity Commission inquiry into Non-financial Barriers to Exploration.
The final report was presented to SCER at its 8 June 2012 meeting and recommended a package of strategic and tactical levers to improve Australia’s exploration competitiveness in both energy and mineral resources. SCER tasked its Exploration Investment and Geoscience Working Group to develop a National Mineral Exploration Strategy and associated Mineral Exploration Investment Attraction Plan.
At the 14 December 2012 SCER meeting, Ministers welcomed the National Mineral Exploration Strategy and agreed to implement the Strategy.