Australian Exploration Opportunities Grow
The Perth-based company this year cooperated with a government investigation into the disturbance and came to an agreement with the traditional owners to restart work.
This ratification allowed for the potential of the permits to be explored in a way that would result in the best outcome for the State and traditional owners, Buru said.
Keiran Wulff, Buru’s managing director, said the company was now moving forward at its permits on a number of fronts.
“This marks the recommencement of field operations after the necessary pause for consolidation and transformation of the company and its operating capability,” Wulff said.
Industry Advice
The decline in exploration has been blamed on the end of Australia’s resources boom; however, a survey by law firm Clayton Utz indicated this is not the only reason.
Respondents believed the boom was not over and Australia instead required reform at a policy level to restore the country’s reputation as a low sovereign risk destination.
“Of the survey respondents, the majority said priority should be given to reforms that tackle rising labour costs and investor uncertainty due to political climate,” according to Clayton Utz.
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