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$250,000 BOOST FOR PERSEVERANCE FOSTERVILLE GOLD MINE

The Minister for State and Regional Development, John Brumby, today announced a $250,000 grant to boost workers' skills in using new technology at Perseverance Corporation's Fosterville gold operation.

Visiting the mine, Mr Brumby said the Bracks Government's Community Regional Industry Skills Program (CRISP) funding would help train employees to use innovative technology to separate gold from ore using a bacterial treatment.

"It is the first time the technology has been used in Victoria and this investment will give workers the training and confidence to use highly specialised equipment," Mr Brumby said.

"Perseverance Corporation's $99 million investment in the expansion of their Fosterville gold mining operation will have huge benefits for the local community.

"It will create 150 jobs, provide an estimated $350 million boost to the local economy over its ten year life cycle, and increase the pool of skilled employees in the Bendigo area.

"The Bracks Government is proudly supporting this project to deliver long-term employment and economic benefits to the Bendigo region."

The Fosterville gold project is a surface and underground gold mining operation located 20km east of Bendigo.

Mr Brumby said Perseverance's decision to develop gold mining operations at Fosterville highlighted the growing strength of the Victorian minerals and resources industry.

"The Fosterville project is anticipated to produce on average around 110,000 to 120,000 ounces of gold each year for approximately10 years, doubling Victoria's current gold output," Mr Brumby said.

Perseverance Corporation is a publicly company listed on the Australian Stock Exchange with more than 2,700 shareholders including many based in provincial Victoria.

Mr Brumby said the Government's $10 million Community Regional Industry Skills Program brings together local employers, labour market providers and education providers to address local skill shortages and to create sustainable jobs and industries in regional Victoria.

"Under the program, 22 CRISP business grants with a total value of $1.92 million have so far been approved for a range of businesses across Victoria," Mr Brumby said.

"The Bracks Government is making the right decisions to protect Victoria's future and is committed to helping business throughout provincial Victoria maximise their potential."

http://www.dpc.vic.gov.au/domino/Web_Notes/newmedia.nsf/0/10783dbf564d0cc8ca2570150008a92f?OpenDocument&Click=