New Investor info on Victoria's Coal Resources
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18 March 2008
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In a bid to attract both Australian and international investment into Victoria, a web-based inventory of its coal resources has been released by the Victorian Government, providing exploration companies easy assess to data on available resources in the Gippsland area and across the state.
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The report was prepared as part of the $1.5 million Developing the Latrobe Valley Resources Future Initiative and provides an update on coal resources in the Latrobe Valley, where much of the state’s coal is located.
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The report gives a summary of Victoria’s coal assets and identifies the location of coal deposits; it quantifies the resources and identifies potential sites for future exploration – particularly in South Gippsland and the Murray Basin.
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Excluding existing mines, there are up to 33 billion tonnes of potential economic brown coal resources in the Latrobe Valley.
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Companies interested in obtaining an exploration licence will be able to use the inventory on the GeoVic website to develop models of where the coal is located and where there is available land to apply for an exploration licence.
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Explorers will be able to access a visual representation of the coal deposits located throughout the state.
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“Understanding the limit and extent of coal resources in Victoria is critical to managing this natural asset,” Victorian Minister for Energy and Resources, Peter Batchelor, said.
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“This report will be a key tool in attracting new investment in Victoria’s coal, to build on existing and planned operation such as Monash Energy’s coal to liquids project.”
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The future use of Victoria’s coal will require new technologies and new investment to meet the government’s commitment reducing Victoria’s greenhouse gas emissions by 60 per cent by 2050.
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“Victoria’s coal resource will require new clean technologies and new investment to meet our future needs and fundamental to that future is a clear understanding of the quantity and quality of Victoria’s coal,” Mr Batchelor said.
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| For further information on the Developing the Latrobe Valley Resources Future Initiative or GeoVic, visit www.dpi.vic.gov.au |
