The State of Discovery: Mineral Resources Strategy 2018-2023 was launched by Victorian Minister for Resources Tim Pallas, who said the strategy would ensure mining had a strong future.

Pallas said in the past 12 months there had been a 79% increase investment in Victoria's mining sector, which made the government optimistic for the future.

There are more than 121,000 people working in the mining industry across the state, with the sector contributing $13.6 billion, or 4% of Gross State Product, in the 2015/16 state budget.

The strategy also calls for at least one major mineral discovery, by 2028.

Minerals Council of Victoria executive director Megan Davison welcomed the strategy's release.

According to Davison, the state is blessed with a diverse commodity base including operating gold, antimony and brown coal mines, world-class mineral sands deposits and highly prospective precious and base metals provinces, and all Victorians needed to understand the value of the industry and the benefits it offers to all.

She said consistent, integrated whole of government policy settings and decision-making that focused on the long-term interests of the state would bring in more investment, grow regional Victoria and create more jobs.

"A growing and sustainable minerals industry is good for Victoria and all Victorians," Davison said.