Photo by: Bloomberg
PERTH (miningweekly.com) – The federal government on Thursday released its first Global Resources Statement as part of its efforts to attract foreign investment and partnerships to develop Australia’s natural resources.
The Global Resources Statement is the first milestone under the government’s Global Resources Strategy, and promotes Australia as a reliable, responsible and ready supplier of mineral resources and energy to the world.
The Statement is the first instalment of the A$20.1-million Global Resources Strategy, announced in the May Budget, to expand Australia export markets and build on the strength of its resources and energy sectors.
“The strategy will ensure our resources sector remains resilient to trade shocks, diversify our export markets and grow our global competitiveness,” Minister for Resources, Water and Northern Australia Keith Pitt said.
“The Statement is a comprehensive overview of the strength and stability of Australia’s resources and energy sectors. It outlines opportunities for the sector to supply global markets as demand for major commodities and new energy technologies rebound from the Covid downturn.
“Australia has world-class operations, vast resources, established supply chains, and a government committed to supporting further investment, exploration and production.”
Pitt noted that Australia’s resources exports have broken records over the past two years and are forecast to top A$296-billion in 2020/21, despite a pandemic that has slowed global growth.
“The Global Resources Statement is an important first step in delivering the government’s Global Resources Strategy, and I would like to offer this document to our trading partners to consider Australia as a reliable, responsible and ready partner for the future.
“The Statement underlines how Australia is a world leader in iron-ore, gold, coal, and liquefied natural gas (LNG) production and exports, as well as bauxite, nickel, manganese and other critical minerals exploration, with opportunities for further expansion.
“Australia has a strong, stable and transparent regulatory regime, research and development incentives to support innovation, and a highly-skilled workforce.
“Our proximity to Asia has seen us become the supplier of choice in ever-expanding global supply chains.
“Australia’s mining industry is a world leader in sustainable resource management and mine safety, and the Mining Equipment, Technology and Services (METS) sector is a world leader in developing the technology needed to improve mining operations, safety and productivity.”
Pitt said Australia was a low risk environment in which to invest and do business.
He said government policies aim to unlock new energy and mineral resources, support new projects, support emerging industries through national strategies on critical minerals and hydrogen, and strengthen its global partnerships.
“Global demand for energy and mineral resources is projected to grow over the coming decades, driven by growing populations and fast-developing economies in our region,” Pitt said.
“This Global Resources Statement promotes Australia’s strong resources credentials. Australia is a reliable, responsible and ready partner for resources exploration, investment and supply.”