SACOME Welcomes COVID-19 Fee Relief for Resources Sector
The South Australian Chamber of Mines and Energy (SACOME) welcomes today’s announcement by the South Australian Government that it will defer costs linked to exploration and licence fees for the minerals and petroleum sectors to alleviate the impact on industry of coronavirus containment measures.
The South Australian Government has implemented an immediate deferral of mineral exploration licence fees and annual petroleum and geothermal licence fees due in the next six months. These licence fees will now not be due until 31 December 2020.
In addition, there is a 12-month waiver of committed expenditure for all mineral exploration licence holders as well as an expansion of allowable expenditures towards minimum Petroleum Retention Licence requirements during a period of low oil prices.
This announcement follows SACOME’s urgent request to the Minister for Energy & Mining for fee relief given the economic uncertainty for explorers and developers caused by the COVID-19 pandemic.
Rebecca Knol, Chief Executive Officer said “SACOME welcomes this announcement by the Hon Dan Van Holst Pellekaan. I congratulate the Minister and the Department for Energy & Mining for this swift action.
SACOME member companies advise that this fee relief will assist them in retaining their workforces over the coming months and promptly returning to operation once markets normalise.
The ongoing financial viability of its member companies is a key priority for SACOME. We know that the fee relief announced today will be of material assistance to operators during this difficult period.”
Ends.
Media contacts:
Rebecca Knol, CEO SACOME, 0409 012 007
About SACOME
The South Australian Chamber of Mines and Energy is the peak industry association representing companies with interests and connections to the South Australian resources and energy sector.
The South Australian Government has implemented an immediate deferral of mineral exploration licence fees and annual petroleum and geothermal licence fees due in the next six months. These licence fees will now not be due until 31 December 2020.
In addition, there is a 12-month waiver of committed expenditure for all mineral exploration licence holders as well as an expansion of allowable expenditures towards minimum Petroleum Retention Licence requirements during a period of low oil prices.
This announcement follows SACOME’s urgent request to the Minister for Energy & Mining for fee relief given the economic uncertainty for explorers and developers caused by the COVID-19 pandemic.
Rebecca Knol, Chief Executive Officer said “SACOME welcomes this announcement by the Hon Dan Van Holst Pellekaan. I congratulate the Minister and the Department for Energy & Mining for this swift action.
SACOME member companies advise that this fee relief will assist them in retaining their workforces over the coming months and promptly returning to operation once markets normalise.
The ongoing financial viability of its member companies is a key priority for SACOME. We know that the fee relief announced today will be of material assistance to operators during this difficult period.”
Ends.
Media contacts:
Rebecca Knol, CEO SACOME, 0409 012 007
About SACOME
The South Australian Chamber of Mines and Energy is the peak industry association representing companies with interests and connections to the South Australian resources and energy sector.