The Minister for Energy and Resources, the Hon. David Llewellyn MP, has decided to ease some of the burden on exploration licence holders in the first two years of tenure of licences awarded under the Exploration Release Area system.

These applications were made in times when mines were profitable and it was relatively easy for exploration companies to raise capital. Therefore there was a realistic expectation that ambitious two year programs could be fully funded.

The applications leading to these programs were selected by the Government because they were considered to offer the best opportunities to provide the new discoveries needed to sustain the future Tasmania mining industry.

The fact that there is a recession and companies are spending less on exploration does not alter the fact that these are still the best available programs.

Metal prices have shown some improvement recently and some commentators consider that there may be substantial recovery in late 2009 or some time in 2010.

Therefore, the Government has decided to offer holders of ELs awarded under the ERA system, and in the first two years of tenure, the option of meeting their initial two year expenditure commitment over three years to provide time for a more favourable investment climate to emerge.

This offer will not extend to new applications made under the ERA system, because applicants are fully aware of prevailing economic circumstances.

It also will not apply to exploration licences not awarded as ERAs.

However, the Government is aware of the severity of the downturn, and will consider applications for exemption from certain licence conditions. For further information contact Therese Taylor ttaylor@mrt.tas.gov.au or phone (03) 6233 8341.

The Exploration Release Area system offers newly available ground at a nominated date, at least two months after expiry, revocation or surrender of a licence. During that time the area is unavailable for application. Discussions can be held about the area with the professional staff of Mineral Resources Tasmania, who will also be able to arrange for the supply of additional information.

After the end of the moratorium period applications may be lodged by courier, registered mail or in person for the whole or part of the ERA. All applications under the ERA system must be lodged with Mineral Resources Tasmania at 30 Gordons Hill Road, Rosny Park, Tasmania, Australia 7018 or at PO Box 56, Rosny Park, Tasmania, Australia 7018. The first date on which applications may be made is shown for each ERA. All applications received during this five day period will be treated as simultaneous and have equal priority.

Applications with equal priority will be considered and decided on merit. If no applications are lodged during the five day period the area becomes open ground for over the counter application. The successful applicant is required to meet the full extent of the financial commitment made in the bid application.

AVAILABLE AREAS
The following Exploration Release Areas are now available, with applications closing on the dates shown.

This page has been produced by the Mineral Resources Tasmania, Department of Infrastructure, Energy and Resources, State Government of Tasmania. Questions concerning its content can be directed by e-mail to info@mrt.tas.gov.au. Questions concerning the site may be directed by e-mail to mrtweb@mrt.tas.gov.au or by mail to PO Box 56, Rosny Park, TAS 7018.

The URL for this page is http://www.mrt.tas.gov.au/
You are directed to a disclaimer information and copyright notice governing the information provided..