TMEC Media Release: Venture Minerals' Riley Project

This is another disappointing announcement for the West Coast and for Tasmania following Venture Minerals decision to suspend operations of the Riley project, says the Tasmanian Minerals and Energy Council's CEO, Jeremy Kouw.

Ironically if the mining activity at Riley had proceeded after the initial approval for the project last year, it would now be in operation employing over 60 Tasmanians and putting 40 million dollars per annum directly into the Tasmanian economy for the next two and a half years.

Venture Minerals' decision on the Riley projectis motivated by the continuing delays they have experienced through the legal challenges and appeals brought by minority groups. This is again clear evidence that as a state we have real issues with project approval processes which are sapping investor confidence in putting money into Tasmania and creating the jobs we so desperately need.

At the Tasmanian Minerals and Energy Council we will continue to work with the State and Federal governments to develop planning and approval processes which deliver both better environmental outcomes and create an environment that provides potential investors much needed confidence around approval process and timelines to get developments off the ground.