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Thursday, January 12, 2006

Mineral Exploration Growing Strongly - Bryan Green, MHA - Tasmanian Government Media Releases

Mineral Exploration Growing Strongly - Bryan Green, MHA - Tasmanian Government Media Releases

Mineral exploration in Tasmania continues to show strong growth, according to the latest figures from the Australian Bureau of Statistics.

The Minister for Infrastructure, Energy and Resources, Bryan Green, says mineral exploration expenditure grew during the September quarter of 2005, both in absolute terms and as a proportion of the national total.

“Expenditure was $3.6 million for the September quarter – up from $2.9 million for the previous quarter and from $1.3 million for the corresponding quarter of 2004.

“Tasmania’s share of national expenditure also increased to 1.23% - up from 1% for the June 2005 quarter and from 0.52% for the September 2004 quarter.

“This reflects both the wide range of mineral commodities available in the State and the success of the Government’s strategy to attract exploration investment.

“Innovative Government geoscience projects, such as the 3-D model and prospectivity analysis of Tasmania and the strong promotion of these and the State’s diverse mineral resource potential are all starting to pay dividends.

“Exploration activity is being translated into new developments, such as the decision by Allegiance Mining N.L. to develop the Avebury nickel deposit, west of Zeehan.

“This will engender widespread community support as new projects under consideration are in a number of areas of the State.”

That includes King Island (Tasmanian Titanium Limited, heavy mineral sands and King Island Scheelite Limited, tungsten) and the North East (Van Dieman Mines plc, alluvial tin and sapphire) as well as the traditional mining powerhouse of the West Coast.

Mr Green said the recent vehicle fire at the Allegiance mine would not disrupt the project’s schedule.

“The company has announced that the upgrade of the final section of the Trial Harbour Road has begun, assisted by a $1.5 million funding arrangement from the State Government to the West Coast Council, and work on connecting the mill and mine site to the State power grid is expected to begin shortly.”

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