Government Keen To Promote Brown Coal Reserves

Government Keen To Promote Brown Coal Reserves

Victoria Minister for Energy and Resources Michael O’Brien

Initial Market Assessment Confirms Interest In Latrobe Valley Coal

Victor P Taffa

The Victorian Coalition Government today provided an update on the development of an allocation process for the Latrobe Valley’s brown coal reserves.

A recent market assessment confirmed local and international interest in the brown coal resource. The project will now move to a deeper market engagement process to further promote the development opportunity and to gain a more detailed understanding of market conditions and interest.

A decision to proceed to tender and to ultimately allocate the resource will be guided by the potential to secure long-term economic development, investment and employment benefits for the Latrobe Valley and Victoria.

Energy and Resources Minister Michael O’Brien said the Coalition Government would work on behalf of all Victorians to secure the best return on the potential development of the State’s enormous coal resource.

“The Coalition Government believes that brown coal can, and should, play a key role in developing a long term and sustainable energy future.” Mr. O’Brien said.

“Victoria has one of the world’s great brown coal deposits and the Coalition Government is committed to maximising the opportunities to develop this resource in support of economic development, investment and job creation in the Latrobe Valley.”

The Government expects to make an announcement on the next stage of this process in mid-2013.