A mining company that received millions in government grants is pulling out of Tasmania and putting its three mines up for sale.
Venture Minerals received six grants from the state government to support exploration drilling at its Riley Creek iron ore project near Tullah, the Mt Lindsay tin mine and the Mt Livingstone iron ore project.
The company is now looking to sell its subsidiary Venture Iron to Gold Valley for $3 million.
This decision follows a review of the iron ore mine near Tullah, which has been in care and maintenance since 2021, determined that selling was the best option to maximise value for shareholders.
Greens mining spokesperson Tabatha Badger said Venture Minerals’ decision shows that the state’s mining laws, which are more than 30 years old, are “no longer fit-for-purpose” and need to be reviewed.
“In recent times we’ve seen an unchecked explosion of exploration activity, approvals given for work in highly environmentally sensitive areas, mining leases granted for political purposes and what seems to be an open slather of corporate asset trading,” she said.
“Not only that, but the government’s grant scheme has been repeatedly exploited by certain players, with one operator alone awarded 15 grants.”
Energy and Renewables Minister Nick Duigan dismissed the Greens’ call for a review, saying the government is focused on encouraging and promoting productive industries.
“The Greens typically want to wrap our mining sector, our forestry sector, our salmon industry in red and green tape and they are actively fighting against these industries,” he said.
“If you get out of bed and put on high-vis in the morning, the Greens don’t want you to have a job.”
“That’s not the position of the state Liberal government … we are looking to find a way to encourage and promote our productive industries.”
