National Resources Statement to attract investment

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The Coalition Government has released a National Resources Statement, outlining how the Government will attract investment, develop new resources and markets, and share the benefits with more regional communities.

The Government’s vision is to have the world’s most advanced, innovative and successful resources sector which delivers sustained prosperity and social development for all Australians.

To achieve this outcome, the Government will focus on five key priorities:

1. Attracting investment

2. Developing new resources, industries and markets

3. Investing in new technologies, especially to improve environmental outcomes

4. Creating well paid secure jobs

5. Ensuring local communities receive benefits from mining activities

Some elements will be progressed in collaboration with the states and territories through the Council of Australian Governments Energy Council, given their responsibilities in regulating the resources sector.

This includes an agreement 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.

The Australian Energy Council’s Chief Executive, Sarah McNamara, said, “We will continue working with the Government and the Australian Competition and Consumer Commission on the many positive reforms proposed in its report to drive prices down.  

“As the ACCC report acknowledged, the key to bringing down energy prices for Australian families and businesses is a stable policy framework that provides certainty for investors.

“The energy industry remains focussed on supporting measures that will stimulate investment and deliver cheaper power for Australian households and businesses.”

The Government will also progress a number of initiatives under the statement, including:

  • Promoting a national resources brand to market the advantages of Australia as a resources investment destination to the world
  • Supporting the development of new resource basins through cooperation with state and territory jurisdictions, like our Memorandum of Understanding with the Northern Territory on the development of the Beetaloo Basin
  • Continuing to invest in the most advanced seismic and aero-magnetic surveys to help discover the next major mineral find through the $100 million Exploring for the Future program
  • Improving the consistency and scope of data across the resource sector

These initiatives will help our resources industry deliver even more benefits to Australians.

The National Resources Statement builds on the recommendations of the Resources 2030 Taskforce commissioned by the Government last year. The Government thanks Taskforce members for their work and the blueprint they provided to ensure the future health of our resources sector.Read the National Resources Statement – https://www.industry.gov.au/nrs.

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