Dan Repacholi (Hunter, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister for Resources. What is the Albanese Labor government doing to accelerate the growth of Australia's critical minerals sector after a wasted decade?

Madeleine King (Brand, Australian Labor Party, Minister for Northern Australia) Share this | Link to this | Hansard source

First, and very seriously, I'd like to take this opportunity to extend my sincere condolences to the family of the worker who has tragically died following an incident at the BHP rail site in Port Hedland overnight. Every Australian worker should expect to come home safely from work, and any death at any Australian workplace is a tragedy. I'm sure we all, here today, extend our condolences to the family, friends and fellow workers of that worker.

I thank the member for Hunter for his excellent question. The demand for critical minerals is rapidly increasing, and this government is ensuring we are well placed to take advantage of this opportunity. Australia is the world's largest producer of lithium, the third-largest producer of cobalt, the fourth-largest producer of rare earth minerals and the fifth-largest producer of nickel. Exports of metals used in low-emission technologies are expected to generate $33 billion in export earnings in 2022-23, which is more than double what they earned the year before. The development of Australia's critical mineral resources is important not just to enable the global transition to net zero but to ensure our partners can access secure supplies of these vital minerals into the future.

Development of our critical minerals will be supported by this government's $1 billion Value-Adding in Resources Fund, part of the $15 billion National Reconstruction Fund which will ensure a share of our raw minerals are processed here. This is the fund that those opposite are now objecting to and not supporting. Perhaps it is no surprise that those who dared the car manufacturers to leave now oppose the $1 billion Value-Adding in Resources Fund and its role in the National Reconstruction Fund.

But this was not always the case. Let me reflect on what others opposite have said about developing Australia's critical mineral extraction and processing capacity and the need to add more value in Australia. In relation to the Critical Minerals Facility, which Labor supported:

The Eneabba Refinery Project strongly aligns with the objectives of the Government's Critical Minerals Strategy. It will capture more value on-shore …

That was said by former resources minister Keith Pitt, the member for Hinkler—resources minister A, we shall call him! It was also said of that facility:

Building a modern manufacturing sector and securing our sovereign capability is a key part of our plans for a stronger economy …

That was said by the former Treasurer and member for Kooyong—let's call him Treasurer A! It was also said:

We'll dig them up right here. We'll refine them right here. We'll look to make the products that use them right here.

That was said by the other resources minister and the other Treasurer, who was also the Prime Minister and the member for Cook, among any other things.

So you have resources minister A and Treasurer A having this exact same principle endorsed by resources minister B, Treasurer B and the Prime Minister. You used to support this principle, and now you're running away from value-adding in resources. (Time expired)