A roundtable of federal, state and territory ministers for resources and mining has reaffirmed a commitment to attract foreign investment for resources projects and expressed support for Australia’s critical minerals sector, following a meeting in Brisbane.
The roundtable was held on the sidelines of the World Mining Congress event, which brings mining executives, investors and decision makers from around the world to Brisbane.
Federal Minister for Resources and Northern Australia, Madeleine King, used the ministerial roundtable to update state and territory ministers on the newly released Critical Minerals Strategy 2023-2030, which outlines a vision to build the sector and downstream processing of critical minerals, and to strengthen international partnerships and supply chains.
Ministers also discussed the development of Australia’s Future Gas Strategy. State and territory jurisdictions will play an important role in shaping the development of the strategy, which will articulate the future role of gas in supporting Australia’s energy system to reach 82 per cent renewables by 2030 and underwrite the energy security of key trading partners.
The roundtable included representatives from all states and the Northern Territory, and was the first to include the new New South Wales Minister for Natural Resources, Courtney Houssos.
Ms King had addressed the World Mining Congress special symposium prior to the event and said the global shift to clean energy and lower emissions will require more mining to meet the demand for low-emissions technologies.
Ms King said International Energy Agency analysis showed that by 2030, the world will need around 50 new lithium mines, 60 new nickel mines and 17 new cobalt mines in order to meet 2030 emissions goals.
Ms King also said mining and downstream processing companies needed to do more to reduce emissions and minimise harmful impacts on the environment and biodiversity.
“The Australian Government is committed to working with the states and territories to boost the development of our critical minerals sector and create new jobs in processing those minerals into materials that are crucial for the clean energy future,” Ms King said.
“The Critical Minerals Strategy 2023-2030 sets out a plan for how Australia can become a globally significant producer of raw and processed critical minerals, and boost economic opportunities for First Nations people and across regional communities.
“Through the Resources Ministers’ Roundtable, we are working to build a common understanding of how governments can maximise these opportunities for the benefit of all Australians.”
Ms King said that with the world on the cusp of an energy transformation, there are vast opportunities ahead for Australia in the transformation.
“Fully realising them, however, will involve mining companies embracing new responsibilities and obligations,” Ms King said.
“These include a commitment to enhancing our environmental and social governance credentials and serious pledges to reduce carbon emissions at source and downstream.”
