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Govt adds to Critical Technologies list

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Photo by Bloomberg

19th May 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – The Australian government has updated the List of Critical Technologies, focusing on key enabling technology fields that will have a high impact on the national interest, including by providing opportunities to grow the economy.

The updated List of Critical Technologies has seven key technology fields, including advanced manufacturing and materials technologies, artificial intelligence (AI) technologies, advanced information and communication technologies, quantum technologies, autonomous systems, robotics, positioning, timing and sensing, biotechnologies, and clean energy generation and storage technologies.

Critical minerals extraction and processing has been included under the advanced manufacturing and materials technology banner, with the government estimating that Australia’s minerals and metal production sector could add a further A$9.4-billion to its value by using critical minerals extraction and processing technologies.

Emissions reduction technologies, low-emission alternative fuels and large-scale renewable energy generation have been included under the clean energy generation and storage technologies banner.

The government pointed out that Australia is at the forefront of hydrogen production and was the first to ship liquified hydrogen overseas. “We have over 100 hydrogen projects in the pipeline and will be able to export hydrogen to places like Japan, Singapore, India and Korea. Our hydrogen industry could add over A$11-billion to gross domestic product (GDP) and create more than 8 000 jobs by 2050,” it said.

Australia's advantages in critical minerals and R&D could also diversify and grow the region’s battery industries, with the government estimating that investment in Australia's battery industries could create 34 700 jobs and add A$7.4-billion to GDP by 2030. 

Under the autonomous systems, robotics, positioning, timing and sensing banner, the federal government noted that autonomous systems are forecast to deliver around A$19-trillion in additional economic value globally between 2020 and 2030, and that Australia can benefit by moving quickly and continuing to invest in these technologies.

“Autonomous technologies could increase our workforce productivity by up to 50%. They are particularly important for regional Australia, where more resources are needed to attract and retain skilled workers and support economic growth.”

Minister for Industry and Science Ed Husic said that this List of Critical Technologies builds on the government’s commitment to expand the number of next generation businesses working at the forefront of Australia's changing economy.

“Advanced analytics can spot genetic patterns that humans can’t, leading to breakthroughs in diagnosing and treating rare diseases. 

“The list includes a new priority on clean energy generation and storage technologies. Breakthroughs in this area will be crucial in our efforts to improve energy security and achieve net zero emissions.

“The government is also targeting A$1-billion of investment in critical technologies through the National Reconstruction Fund, which will further bolster Australia’s industry and economy,” he added.
 

Edited by Creamer Media Reporter

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