Expenditure relief for WA's mining exploration industry in wake of COVID-19
|Date:||Friday, 27 March 2020|
- State Government investigating other ways to assist industry
The McGowan Government is providing guidance to clarify the criteria that can be applied in granting exemption from exploration expenditure requirements in Western Australia.
The measures will help provide relief to companies and help support the State's economy to respond to COVID-19.
Mines and Petroleum Minister Bill Johnston has enabled an exemption from exploration expenditure to be considered if tenement holders are unable to meet the tenement's expenditure requirements as a direct result of COVID-19 or because of restrictions imposed by the State and Federal governments. This decision will be valid until March 31, 2021, unless rescinded earlier.
The statement of opinion from Mr Johnston will be published in the Government Gazette in the coming days.
Applications can be made to the Department of Mines, Industry Regulation and Safety (DMIRS), detailing the reasons an extension of time is required through the existing Form 5 process.
In terms of tenement rents, there is an existing mechanism which allows tenement holders to apply for an extension of time to pay. Applications can be made to DMIRS detailing the reasons an extension of time is required.
DMIRS is investigating a range of other initiatives that may assist the industry, while not compromising the integrity of our legislative framework.
Comments attributed to Mines and Petroleum Minister Bill Johnston:
"These are uncertain and challenging times, and I want to thank those in the mining industry for sharing their views on how the State Government can assist.
"The McGowan Government is taking this situation very seriously and is working to identify opportunities to assist our local businesses in the sector.
"It's critical more than ever that the McGowan Government continues to support one of our most important industries.
"Our mining industry has played a huge part in the growth and development of this State, and it will continue to play an important role for years to come."