Regulatory barriers faced by mineral and resource exploration companies will be the subject of a new Productivity Commission Inquiry.
The Assistant Treasurer, David Bradbury MP and the Minister for Resources and Energy, Martin Ferguson AM MP, today announced the Inquiry into Non-Financial Barriers to Mineral and Energy Resource Exploration.
Minister Ferguson said the Inquiry will outline reform options to address barriers to exploration for mineral and energy resources in Australia.
"The Inquiry will examine exploration approvals systems and processes, within and across jurisdictions, to assess their effectiveness and efficiency," Minister Ferguson said.
"The Productivity Commission will commence the Inquiry this month and will release a draft report for consultation and conduct public hearings before the final report is delivered in twelve months," Minister Bradbury said.
The Inquiry was recommended by the Policy Transition Group (PTG), a Group established by the Australian Government to advise on the implementation and technical design elements of the new resource taxation reforms, and the corresponding impact on minerals and petroleum exploration.
The Inquiry will assess duplication across state, territory and Commonwealth regulation, costs associated with government processes and broader economic costs.
The Commission will not address local, state, territory and Commonwealth taxation, fiscal policy, financial incentives, fees, charges and royalties.
Native title and Indigenous heritage is also out of scope of this inquiry as there are currently separate processes underway considering these issues.
The terms of reference for the inquiry are attached below.
For more information, visit the Productivity Commission's website.