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Budget 2022-23
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NEW SUPPORT FOR TASMANIA’S RESOURCES SECTOR

Guy Barnett MP, Minister for Resources

The Tasmanian Liberal Government is strengthening the State’s future with its support of the jobs-rich mining and forestry sectors which are at the core of our economy.

Resources, particularly the mining and mineral processing sector, provide the lion’s share of our exports by value, accounting for more than 60 per cent of our record $4.6 billon export earnings for the 12 months to March 2022.

Collectively, the sector supports more than 10,000 direct and indirect jobs across the State and is at the centre of many regional communities.

As part of the 2022-23 Budget, the Government will commit $1 million in new funding to back the sector, supporting more jobs in regional Tasmania and encouraging new investment.

This includes $800,000 over four years to support Mineral Resources Tasmania in providing enhanced services and information to the minerals and construction sectors, which are currently in a phase of strong growth.

We will also provide an additional $200,000 to help address emerging national wood supply pressures and inform the Government’s strategic approach in achieving long-term sustainable wood resource security to support the sustainable Tasmanian forest and wood products sector.

The Budget also provides for the remaining $1 million of our $2 million funding commitment to assist the completion of power network infrastructure upgrades to support the re-opening of the Dolphin Mine located near Grassy on King Island.

These new commitments are on top of the millions provided through our 2021 election commitments, which include:

  • $10 million to support our On Island Processing Grants Program;
  • $2 million for a refreshed Geoscience Initiative, which is being supported by up to $3 million from the Australian Government’s Exploring for the Future program;
  • $1.5 million to extend our popular Exploration Drilling Grants Initiative;
  • $1.15 million to the Tasmanian Timber Promotions Board to value-add and promote Tasmanian timber products across the world; and
  • $450,000 to help the mining and forestry sectors develop industry specific Diversity Action Plans.

There is no stronger supporter of the resources sector than the Tasmanian Liberal Government as we continue to harness Tasmania’s competitive strengths and resilient and diverse economy to attract investment and create more jobs, which strengthens the future of all Tasmanians.