Media release from the Shadow Minister for Mining and Industry, Steve Edgington MLA:
Shadow Minister Steve Edgington says that today the Minister for Mining and Industry, Nicole Manison confirmed that despite being first in the world for ‘mineral potential’ the mismanagement of approvals and the destructive Hybrid Mining Tax has meant that this potential is not being realised.
“The Minister was unable to name why mining royalties are forecast to decrease, instead blaming Treasury for being conservative with their numbers. Clearly that doesn’t apply to Labor who still stand by their mythical $40billion economy figures.”
“Despite admitting that we needed to do more to take the eyes off WA and turn them to the Northern Territory, in blatant disregard for industry said that their hybrid mining tax had not stopped any investment into the Territory.” Said Mr Edgington.
“We also know the Labor membership don’t support gas and it’s clear that Labor caucus are proceeding slowly and with trepidation as they manage the internal split on the issue. We even saw the Chair step in to shut down this line of questioning”
Mr Edgington said that it was clear today that the Labor Government just doesn’t understand the impact their destructive policies and dragging their feet has on the whole Territory economy.
Questions so far have uncovered:
- Despite Industry calling for the immediate transition away from the destructive Hybrid mining tax, Minister confirmed that it would take 12 months to implement the CLP policy of ad valorem royalties.
- In a stunning display of not being across one of the most important things holding back mining investment here, approval times, the Minister said that the NT timeline was as good as anywhere else. The facts are it takes on average 3-5 years here in the Territory compared to Western Australia sitting at 286 days.
- There are no new mines on the Major Projects list.
- The Minister did not know if this Hybrid Mining Tax could be waived by the Department, as a former Treasurer it’s hard to believe this wasn’t just the Minister choosing not to answer.
- Despite confirming that if a Traditional Owner did not want exploration to go ahead it would absolutely not happen, could not confirm how many times this veto had been exercised, simply saying ‘time to time’.
- There are currently 8 mines operating in the NT with 21 seeking approval (the same number as the previous year), the Minister could not name how many mines were operating when Labor came to Government, therefore having no idea how her Government had impacted the critical minerals industry.
- Despite $74 million being allocated for remedial works on legacy mines only $1.1m has been spent, this is off the back of last year when $61milllion was allocated and only $1.4million was spent.