The Association of Mining and Exploration Companies (AMEC) has lauded returned Prime Minister Anthony Albanese’s decision to retain Madeleine King as both Minister for Resources and Minister for Northern Australia.
AMEC Chief Executive Warren Pearce says Minister King has worked closely with the association and was instrumental in the development of the legislated $7 billion Critical Minerals Production Tax Incentive (CMPTI).
Pearce says the return of King to her current portfolios is a win for the mining industry.
“Minister King understands the vital role the resources sector plays in maintaining Australia’s high living standards and economic prosperity and has been a strong representative of the sector in government and the parliament,” Pearce says.
Commenting on her reinstatement, Minister King says strengthening Australia’s resources industry is a key priority of the Australian Government as a part of its Future Made in Australia agenda.
“The development of our critical minerals and rare earths sector is central to Australia’s national economic, trade and security interests,” King says.
“Our resources industry is the engine room of the economy, but it is also increasingly important for our sovereignty and our national security.
“Critical minerals and rare earths are essential for our defence industry and will be needed by our security partners, particularly as part of AUKUS.”
King adds that the creation of a Critical Minerals Strategic Reserve, combined with Production Tax Credits and the expansion of the Critical Minerals Facility “will support Australia’s economy and boost our resilience in a time of global uncertainty”.
The Minerals Council of Australia also congratulates King and the other appointments.
“The MCA extends our thanks to outgoing Ministers Ed Husic and to Tanya Plibersek, former Environment Minister and now Minister for Social Services, for their leadership and dedication throughout their respective tenures in portfolios directly related to the minerals sector,” Minerals Council CEO Tania Constable says.
“Australia’s minerals sector is central to the nation’s prosperity – supporting over 1.2 million jobs, contributing more than $455 billion in export earnings last year, and playing a vital role in the global energy transition through the supply of critical minerals.
“With the new ministry in place, the MCA is committed to working collaboratively with the Albanese Government to support a stable and competitive investment environment, ensure workplace laws encourage productivity and flexibility, deliver a balanced and affordable approach to energy, and reform environmental approvals to provide faster, clearer decisions.
“We urge a re-elected Albanese government to place investment at the heart of its economic growth strategy, by creating the right conditions to attract the capital needed not only in our sector, but across the broader economy.
“A strong focus on skills, training and workforce development must also remain central to the government’s economic agenda, ensuring that Australia has the capability and talent it needs to meet growing demand for critical minerals and resources.”
AMEC also welcomes the appointment of the first Assistant Minister for Resources, with Senator Anthony Chisholm from Queensland assuming the role, and Senator Murray Watt as the new Environment Minister.
“This presents an opportunity to reset a portfolio that has recently confused and frustrated industry,” Pearce says.
“This fresh start is especially important in relation to the reform of the Environmental Protection and Biodiversity Conservation Act 1999 (EPBC). This will no doubt form a large focus for Minister Watt’s year ahead.”
Rounding out relevant cabinet positions for industry, is Michelle Rowland, appointed as the new Attorney General, who will now play a key role in any future Native Title reform.
With Federal Cabinet now confirmed, Pearce says “it’s an exciting time ahead for the resources industry”, as the federal government builds on the CMPTI and the recent election promise to develop a Critical Minerals Strategic Reserve.
Mining.com.au is an associate member of AMEC.
Write to Adam Orlando at Mining.com.au
Images: iStock & MP Madeleine King
