The Australian Government has revealed green metals as a priority industry for its Future Made in Australia framework and, as such, is seeking to understand the barriers to decarbonise the production of green metals.
The government is also wanting to know what would encourage new investors in the green metals sector.
Upon the release of the ‘A Future Made in Australia: Unlocking Australia’s Green Iron, Steel, Alumina and Aluminium Opportunity’ consultation paper at the end of May, the government is seeking help to guide policy development to support a green metals industry, as well as contribute to a Future Made in Australia.
The government asks the sector for its views, data, and analysis on how to reel in benefits for future generations, regarding the country’s green metals production and net zero transformation.
Insights from the consultation are also expected to inform the government’s net zero plan, including its industrial sector plan. The plan will consider opportunities and barriers to decarbonise metals production.
Minister for Industry and Science Ed Husic says the Future Made in Australia vision is about a secure future for 39,000 Australians who work in the metals industry.
“Today’s announcement gives these Aussie workers, and the outstanding Aussie businesses who employ them, a say in that future so we can capture the opportunities from the net zero transformation,” he says.
“Together, we’ll get jobs up, emissions down, and build on our long legacy of making the world’s best steel aluminium, iron, and steel using the world’s best know-how.”
According to the government, green metals could be worth $122 billion to Australia’s economy by 2040, while also reducing emissions by as much as 250 megatonnes of carbon.
Under the Future Made in Australia vision, the budget has backed green metals opportunities. The budget included an estimated $8 billion over a decade for renewable hydrogen production incentives, as well as a $1.7 billion innovation fund to accelerate new and innovative technologies and facilities.
The budget also included the Guarantee of Origin Scheme, which has been piloted to certify green hydrogen, and will also be expanded to green metals. This will certify intensity of green metals, helping the nation establish “stronger” markets for green manufacturing.
Write to Aaliyah Rogan at Mining.com.au
Images: Ed Husic (via Science and Technology Australia)
