Government releases resources plan
THE Federal Government has released its first National Resources Statement in more than 20 years; a move that is set to reinforce Australia’s position as a global leader in the resources sector.
The statement outlined how the Government would attract investment, develop new resources and markets, and share the benefits of success with more regional communities.
Federal Resources minister Matt Canavan said that the Government’s vision was to have the world’s most advanced, innovative and successful resources sector, which would deliver sustained prosperity and social development for all Australians.
“By 2030, Asia will produce more than half the world’s economic output, consume 40 per cent of its energy and be home to a middle class of almost 3.5 billion people,” Mr Canavan said.
“Given this growth, and if Australia can maintain its global share of commodity production, at least 24,000 new direct mining jobs could be created.”
The statement included a five point action plan which highlighted key areas including delivering the most globally attractive and competitive investment destination for resources projects; opening up new industries and resources regions; a better focus on the sector’s innovation, research and development on long-term, sectoral growth; developing and retaining the world’s best workforce; and delivering better outcomes for stronger and more engaged communities.
The Federal Government would also work in conjunction with the States and Territories through the COAG Energy Council to establish a new critical minerals work program to boost exploration, develop a data strategy to de-risk investment decisions, and build community confidence in the sector.
“Our resources sector makes up eight per cent of our economy and exports are predicted to reach a record $250 billion in 2018–19,” Mr Canavan said.
“It also employs around 1.1 million people directly and indirectly and is the largest employer of Aboriginal and Torres Strait Islander people.
“This National Resources Statement will help keep us at the top of our game and pave the way for decades of prosperity for all Australians.”
Association of Mining and Exploration Companies (AMEC) chief executive Warren Pearce welcomed the statement, which built on the recommendations of the Resources 2030 Taskforce commissioned by the Government last year.
“These priorities and initiatives identified by the Government are all recommendations in AMEC’s Federal Policy Platform; we are pleased to see Government listening to our industry, in particular the pragmatic recommendations of the Resources 2030 Taskforce,” Mr Pearce said.
Queensland Resources Council (QRC) also applauded the release.
“To make the most of our resources diversity and opportunities, all levels of Government must work together to ensure stable and consistent regulation, as well as support for new investments from the North West Minerals province, to the Bowen and Surat basins and the Galilee Basin,” QRC chief executive Ian Macfarlane said.