Back-flip on Securing South Australia's Future
The South Australian Chamber of Mines and Energy (SACOME) condemns the back-flip by the Marshall Liberal Government to support former Liberal MP, turned Independent Troy Bell’s legislation for a moratorium on hydraulic fracturing across the Limestone Coast in the South-East of South Australia.
This change in position comes after the Marshall Liberal Government recently voted down an identical piece of legislation that was introduced by Greens MLC, Mark Parnell.
This reversal follows the Liberal Marshall Government’s first State Budget which overlooked funding for PACE Minerals, a subsequent round of PACE Gas, cut $70 million from the Department of Energy and Mining’s operating budget and has unexpectedly dismantled the royalty concessions for new mines.
The resources sector now has serious concerns with the message this is sending to existing and new resource industry investors into this state, in areas where land access is an issue and raises sovereign risk concerns for the State.
The Marshall Liberal Government is sending a clear message that resources sector investment is not supported in this State.
These policy and budget decisions create the perception that the Marshall Liberal Government do not value the economic contribution of the resources sector.
Rebecca Knol, CEO of SACOME said: “The resources sector employs over 11,000 people, delivers $6.4 billion in gross state product, $5.3 billion in production, $3.7 billion in exports and $213 million in royalties to South Australians.
"The decision by the Marshall Liberal Government to support Troy Bell’s Private Member’s Bill is a move that dismisses the track record of an industry, creates sovereign risk concerns, investment uncertainty and regulatory confusion with the potential to limit resources sector investment at a time when it is most needed for our State.
"It sends a worrying message to the resources sector that politics is more important than evidence-based industry regulation.
"Confidence in the regulatory system is the cornerstone of investment and decisions made for political reasons undermine that confidence.”
Media contact:
Rebecca Knol, CEO SACOME, 0409 012 007
The South Australian Chamber of Mines and Energy (SACOME) condemns the back-flip by the Marshall Liberal Government to support former Liberal MP, turned Independent Troy Bell’s legislation for a moratorium on hydraulic fracturing across the Limestone Coast in the South-East of South Australia.
This change in position comes after the Marshall Liberal Government recently voted down an identical piece of legislation that was introduced by Greens MLC, Mark Parnell.
This reversal follows the Liberal Marshall Government’s first State Budget which overlooked funding for PACE Minerals, a subsequent round of PACE Gas, cut $70 million from the Department of Energy and Mining’s operating budget and has unexpectedly dismantled the royalty concessions for new mines.
The resources sector now has serious concerns with the message this is sending to existing and new resource industry investors into this state, in areas where land access is an issue and raises sovereign risk concerns for the State.
The Marshall Liberal Government is sending a clear message that resources sector investment is not supported in this State.
These policy and budget decisions create the perception that the Marshall Liberal Government do not value the economic contribution of the resources sector.
Rebecca Knol, CEO of SACOME said: “The resources sector employs over 11,000 people, delivers $6.4 billion in gross state product, $5.3 billion in production, $3.7 billion in exports and $213 million in royalties to South Australians.
"The decision by the Marshall Liberal Government to support Troy Bell’s Private Member’s Bill is a move that dismisses the track record of an industry, creates sovereign risk concerns, investment uncertainty and regulatory confusion with the potential to limit resources sector investment at a time when it is most needed for our State.
"It sends a worrying message to the resources sector that politics is more important than evidence-based industry regulation.
"Confidence in the regulatory system is the cornerstone of investment and decisions made for political reasons undermine that confidence.”
Media contact:
Rebecca Knol, CEO SACOME, 0409 012 007