Uncertainty Risks Investment In Australian Projects

The Chamber of Minerals and Energy of WA (CME) acknowledged the ongoing uncertainty resulting from spurious litigation and other activist actions which aim to trigger 11th hour re-consideration of project developments.

CME Chief Executive Officer, Rebecca Tomkinson, said that the Minister's partial determination regarding Regis' NSW gold mine was a case in point, and welcomed Senator Duniam's intent to move a disallowance motion.

"Our sector relies on regulatory frameworks that maintain our strong environmental protections and are delivered in a transparent, timely and efficient manner," Ms Tomkinson said.

"The decision is relation to Regis' project in NSW risks compromising industry and community trust in the robust project assessment and consultation processes conducted at state level across Australia. This uncertainty adds to the risk faced by proponents who are seeking to bring to market Western Australia's pipeline of projects that will underpin our economic security and regional jobs for decades to come.

"While the Government has noted the ruling relates to a specific part of the mine plan, and does not prohibit the project as a whole, the financial, regulatory and operational complexity of mandating changes to any project at this very late stage is immense.

"By overturning previous approvals and determinations, and ignoring the Local Aboriginal Land Council, the Minister further opens the door to micro-interest groups weaponising section 10s to destabilise the Australia's global standing as a country with low sovereign risk."

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