Statement of economic significance
A mining or prospecting licence holder must prepare a statement of economic significance before carrying out certain activities on agricultural land that they do not own.
The statement is part of a process that allows landholders, in certain circumstances, to apply to have agricultural land removed from a licence.
What the statement must include
A statement of economic significance must:
- assess the benefits of the proposed mining or prospecting activity to Victoria, including employment and revenue
- assess how those benefits would change if the activity could not take place on the agricultural land
- assess each separately owned or occupied agricultural property
- explain the method and information used in the assessment.
When to provide the statement
For an initial work plan, licence holders must provide the statement to the owners and occupiers of the agricultural land by whichever happens first:
- 6 months after the licence holder is notified that the licence has been granted
- the date the licence holder lodges the work plan.
For later work plan variations involving agricultural land, licence holders must provide the statement when lodging the work plan variation application.
Resources Victoria does not approve the statement
Resources Victoria does not approve or endorse statements of economic significance. Licence holders are responsible for making sure their statement is accurate and meets the requirements of the Mineral Resources (Sustainable Development) Act 1990.
Before a licence holder provides a statement to landholders, Resources Victoria may review a draft. It may also provide general information to help licence holders understand the requirements of the Act.
Resources Victoria may ask for a copy of the statement and related information to check compliance with the Act. This can include records showing when and how a licence holder provided the statement to owners and occupiers of agricultural land.
Page last updated: 29 Oct 2026