ABC News Online reported that Tasmania's resources minister has described the mining sector as a bright light in the economy.

Mr Bryan Green was speaking at the official launch of a new venture on Tasmania's north west coast.

Perth based miner Bass Metals has spent USD 17 million developing the Fossey project at Hellyer mine south of Burnie. It includes the refurbishment of the processing mill which has not be operational since its former owner left the site a decade ago.

It will employ 120 people and process 500,000 tonnes of ore a year to produce zinc lead and precious metal concentrates.

Launching the venture, Mr Bryan Green said that the project provided vital employment for the region which has been hit hard by job losses.

He added that a record amount of money was being spent on mineral exploration, describing the industry as a bright light for the economy.

(Sourced from www.abc.net.au)