Record royalties highlight strength of mining industry Wed 20 June 2012 Bryan Green Deputy Premier The strength of Tasmania's mining industry has been highlighted by record mineral royalties being paid to the State. The Minister for Resources Bryan Green said today revenue from royalties will exceed $50 million for the first time because of record sales. "Tasmania's mining industry is open for business and we are looking positively towards further investment," Mr Green said. Mr Green said mining royalties were now worth tens times more than they were a decade ago. Mr Green urged the Liberals to be positive about the future of the sector instead of talking down the industry because it threatened to undermine confidence. "Mining companies are continuing to invest, explore, mine and process at record levels in Tasmania. "This is happening despite the constant negativity of the Liberal Opposition about the prospects of the mining industry. "The record-setting mining industry in Tasmania is worth celebrating and it's about time the Liberal's joined in. Mr Green said the mining sector was crucial to the State's economy and represented more than half of Tasmania's international exports. "Mining exports totalled $1.7 billion with metallic ore exports reaching a new record, up 22 per cent. Mr Green said there was also record spending in mineral exploration. "The latest ABS data shows expenditure on exploration for the first three quarters of 2011-12 was a record $29.7 million. "This demonstrates the strength of the Tasmanian mining industry and its continued importance to our economy.