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Dáil Éireann díospóireacht -
Thursday, 29 Jun 1972

Vol. 262 No. 3

Ceisteanna—Questions. Oral Answers. - Mineral Resources Agency.

42.

asked the Minister for Industry and Commerce if he will agree to the setting up of a separate State agency to control, in the national interest, the present position of the important national mineral resources now known to exist in the State.

The exploration and development of our mineral resources is already the subject of a high degree of State control. All reserves of gold, silver and petroleum and over 60 per cent of all other mineral rights are State owned. Our minerals legislation empowers me, where necessary, to acquire, subject to the payment of compensation, minerals that are not being worked or are not being worked efficiently. Prospecting licences and State mining leases are granted subject to such terms and conditions as I think proper.

As I stated in the House recently, the present policy of granting exploration and mining facilities to competent private enterprise concerns was adopted as the only practical way to ensure the thorough exploration and development of our mineral resources, following on the failure of direct participation, in the 1940s and early 1950s, by the State in mineral exploration and development through State sponsored companies. I also indicated on that occasion that I am having a review carried out of royalty and taxation arrangements in regard to mining, in the light of which I will consider what long term fiscal policy for mining would be best suited for the future.

In the circumstances, I do not propose to set up a State agency for the purpose mentioned by the Deputy.

Would the Minister not agree that, with the very important and valuable mineral resources now known to exist within the country, the present position concerning their extraction is very far from satisfactory? Would he not agree that responsible international mining opinion holds the view that the Mineral Development Acts in this country, and the regulations relating to royalties, taxation and so on, are unique and worthy of a very full review by the State? The Minister has not proceeded to do this.

The Deputy quoted responsible international opinion but I do not know in what responsible State mineral exploration is handled by the State rather than by private enterprise.

Would the Minister not agree that the taxation incentives offered by him are the most unique and generous in the known mining world, and that that factor alone should lead to some review within his Department?

This is what I have just said. I accept the attractiveness of our taxation arrangements. I indicated the change that has come about. With regard to the mineral resources now know to exist within the State—as the Deputy put it—that "now known" arises from the attractiveness of our arrangements to the enterprises that came in here. The Deputy asked me if I would have another look at the fiscal policy and that is exactly what I am doing.

Question No. 43.

Where those resources are known to exist and where they are being exploited within the State and providing valuable employment, notwithstanding all these advantages, it is scandalous that millions of pounds will be made with no provision for ancilliary industries such as smelting or refining. Authoritative opinion nationally and internationally is that the Minister is being taken for a very big ride at the expense of £10 million or £12 million which could be made.

I do not accept fortune telling. That has not been established.

Fortunes are being made on the Toronto Stock Exchange.

Have a Canadian company got an interest in mining in Ireland?

That is a separate question. This question deals with the setting up of a State agency.

Has the Minister seen a statement made by a Canadian company that in Ireland there are protests against their interests here?

That does not arise.

I am asking the Minister does he read the newspapers.

That is out of order and the Minister would not be in order in replying to it.

I will raise the matter on the Adjournment with your permission.

If it is out of order, the Deputy cannot raise it on the Adjournment.

I can raise the subject matter of the question. It is not 3.30 p.m. yet.

The Deputy is welcome to raise it any time he wishes. We have given the Deputy opportunity after opportunity to raise his questions on the Adjournment and he has failed to do so.

You ruled it out of order yesterday.

He failed to do so.

He might not have informed his public relations officer.

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