Reduced red tape essential
5 August 2019
Today’s announcement of a Productivity Commission review to streamline resources regulation is an acknowledgement that the regulatory burden in Australia continues to grow.
“Effective and cost-efficient regulation that does not diminish environmental values is fundamentally important to maximise Australia’s natural resource potential,” says Warren Pearce, Chief Executive Officer, Association of Mining and Exploration Companies (AMEC).
“Australia has an abundant mineral opportunity in each jurisdiction. However, the increasing costs and uncertainty of regulatory timeframes makes attracting scarce investment capital increasingly difficult.”
“This review needs to prune regulation cutting unnecessary and duplicative processes and costs, while maintaining effective oversight and risk-based regulation. It will also need to be undertaken in close collaboration with the approvals reform processes already under way in most Australian jurisdictions.”
“We look forward to working with our members, the Productivity Commission and the Morrison Government to ensure that recommendations from previous reviews on red tape and environmental approvals are fully considered and implemented,” said Mr Pearce.