The four areas being opened up for exploration cover 764sq.km around Driffield/Narracan, Flynn/Gormandale, Traralgon/Yinnar and Tyres/Maryvale, Victorian Energy and Resources Minister Candy Broad said.
"The scale of the exploration opportunities on offer will create interest in both the international and domestic markets and will help the Latrobe Valley attract potentially massive new investment," Broad said.
Development of the vast brown coal reserves of the Latrobe Valley from the 1920s provided the powerhouse that supported the expansion of the state's manufacturing industry. Brown coal is still used to produce 95% of Victoria's electricity.
According to the Victorian Natural Resources and Environment Department's website, total brown coal resources in the Latrobe Valley are estimated at 394 billion tonnes, with an estimated useable brown coal reserve of 50Bt. The region contains some of the thickest and closest to the surface brown coal seams in the world.
Anticipating opposition to increasing the number of coal-fired power stations, Broad said the coal tender would be used to encourage the industry to adopt new, clean technologies to ensure brown coal remains a viable energy source.
"No future development will be successful unless it has been subjected to the most stringent environmental assessment ever undertaken in Victoria's history."
