Strategic Resource Determination Criteria Criterion Detail Measure 1 Threatened Those resources with less than 5 years of supply from Identifies particular extractive resources that are in short resource types current and planned future licensed reserves are identified supply in the state relative to the level of projected under this criterion. demand. Identification of known locations of these resources will also be undertaken. This criterion will consider the potential substitutability of resources in considering which particular extractive resources could be subject to strong price pressures in future. Thresholds applied under Criterion 2 are different for each 2 Key supply Identifies locations in Victoria subject to significant rock type: locations where exhaustion of current and planned future licensed significant reserves across the analysis period. The high exhaustion Hard rock: a cumulative production shortfall of depletion of rate occurring in these locations indicates that they greater than 700,000 tonnes between 2015-50 resources is receive high levels of allocated demand, which suggests Sand and gravel: a cumulative production shortfall anticipated that they are well suited geographically to delivering of greater than 500,000 tonnes between 2015-50 extractive resources support Victoria’s development Limestone: a cumulative production shortfall of greater than 2 million tonnes between 2015-50 Clay and clay shale: a positive cumulative production shortfall between 2015-50
Strategic Resource Determination Criteria Criterion Detail Measure 1 Threatened resource types Identifies particular extractive resources that are in short supply in the state relative to the level of projected demand. Identification of known locations of these resources will also be undertaken. This criterion will consider the potential substitutability of resources in considering which particular extractive resources could be subject to strong price pressures in future. Those resources with less than 5 years of supply from current and planned future licensed reserves are identified under this criterion. 2 Key supply locations where significant depletion of resources is anticipated Identifies locations in Victoria subject to significant exhaustion of current and planned future licensed reserves across the analysis period. The high exhaustion rate occurring in these locations indicates that they receive high levels of allocated demand, which suggests that they are well suited geographically to delivering extractive resources support Victoria’s development Thresholds applied under Criterion 2 are different for each rock type: Hard rock: a cumulative production shortfall of greater than 700,000 tonnes between 2015-50 Sand and gravel: a cumulative production shortfall of greater than 500,000 tonnes between 2015-50 Limestone: a cumulative production shortfall of greater than 2 million tonnes between 2015-50 Clay and clay shale: a positive cumulative production shortfall between 2015-50