Mining Summit 2024: Anthony Albanese urged to dig deeper to help miners

West Australian miners and leaders have joined forces to urge the Albanese government to invest more in infrastructure on top of tax incentives to help lift the mining industry.

Resources Minister Madeleine King said investment by the government in the resources sector was the most significant in a generation.

West Australian miners and leaders have joined forces to urge the Albanese government to invest more in infrastructure on top of tax incentives to help lift the mining industry.

Speaking at a mining conference in Perth on Wednesday, ­federal Resources Minister Madeleine King delivered a passionate defence of the $27.8bn mining tax incentive scheme and accused ­Opposition Leader Peter Dutton of threatening national security by his “mind-boggling” scrutiny of the latest budget.

Ms King said investment by the government in the resources sector was the most significant in a generation.

“Dutton’s opposition is tone-deaf to the work the government is doing with the US administration to secure our critical mineral supply chains from disruptions and manipulation,” she said.

“We should be clear that supporting our critical minerals and rare earths industry is a matter of national security and their decision to play politics on an important issue of sovereignty is mind-boggling.

“The hypocrisy is staggering and it is unbelievable.”

Resources Minister Madeleine King. Picture: NCA NewsWire / Gary Ramage

But, despite support for the federal government’s proposed support for critical minerals, other parts of Anthony Albanese’s legislative agenda copped strong criticism from mining industry leaders, particularly plans to strengthen environmental legislation.

MCA chief executive Tania Constable said Labor’s move to adopt new environmental laws was a huge blow for the country’s biggest export industry, describing the watered down plans a “joke”.

“The environmental policy is just an absolute joke in Australia. We are not seeing the sort of environmental policy that we need for better environment outcomes,” Ms Constable said.

“So I’m failing to see what a national EPA is going to add in terms of making sure that we get better environmental outcomes when we’ve got state EPAs out there.”

The production tax incentive was announced as part of this year’s federal budget. It was designed to incentivise critical minerals and hydrogen investments.

But the incentives turned into a political clash after the oppositions’ treasury spokesman Angus Taylor described the move as “handouts to billionaires”.

Minerals Council of Australia CEO Tania Constable. Picture: Nigel Hallett

Lynas Rare Earths managing director Amanda Lacaze said the government should also look to provide funding to sections of the resources industry in which the nation is at a competitive disadvantage after last week’s budget provided tax incentives to miners.

Ms Lacaze said in Australia, landside logistics and infrastructure were among areas that would benefit from additional support from the government, pointing to Kalgoorlie which is served by a 100-year-old water pipeline and a single high-voltage power pipeline.

“Anyone who’s in Kalgoorlie would know at the end of January a lightning strike took out some high-voltage towers and the town was without power completely for five days,” Ms Lacaze said.

“We really should be looking for opportunities to improve the utilities to address those areas of disadvantage, particularly say energy costs, is a big opportunity.”

Ms Lacaze said Australia could learn from the US in how to use government funding that may be supporting defence or supporting industry development, that benefits the community at the same time. The mining stalwart also backed investment in areas where Australia was at an advantage such as geo mapping and other areas which underpinned Australia’s strength as one of the world’s leading mining powerhouses.

“The tax credits address an area we all know that Australia is competitively disadvantaged in our tax system. But there is much more that could be done in a way that will have dividends not just for business, but also for our community and Australia,” she said.

The chairman at lithium company Allkem, Peter Coleman, told the panel of mining executives that Australia and China must overcome their differences and invest in the industry.

Originally published as Mining Summit 2024: Anthony Albanese urged to dig deeper to help miners