Glenn Sterle (WA, Australian Labor Party) Share this | Link to this | Hansard source

My question is for the Minister representing the Minister for Resources, Senator Watt. I refer to the announcement by the Prime Minister during his recent visit to the United States that the Albanese government will deliver a $2 billion expansion in critical minerals financing, which will solidify Australia's position as a world-leading provider, help the transition to net zero, boost the economy and support more jobs and opportunities for Australians. Noting this expansion of the critical minerals facility takes the government's value-adding investments in Australian resources to $6 billion, can the minister please explain to the Senate how investing in critical minerals financing will bolster the sector in Australia, resulting in technology, skills, jobs and economic benefits for Australians?

Murray Watt (Queensland, Australian Labor Party, Minister for Agriculture, Fisheries and Forestry) Share this | Link to this | Hansard source

Thank you, Senator Sterle, who I know as a Western Australian senator is very excited about the opportunities around critical minerals, as, might I say, are Senator Green and Senator Chisholm, from Queensland, where there are lots of opportunities too—and no doubt other states as well.

Before answering Senator Sterle's question, I do want to start by offering my sincere condolences to everyone affected by the tragic accident at Alcoa's refinery in Pinjarra, Western Australia, which is obviously also in the resources sector. Every worker has the right to a safe workplace and every worker deserves to arrive home to their family after a day's work, so we do pass on our condolences to the families and friends of those workers.

Workers are central to our resources sector, and the Albanese government is committed to developing Australia's critical minerals sector. This sector is critical to the transition to net zero, and we are making investments to support that transition to drive economic growth and create high-value jobs. As the Prime Minister recently announced in the United States, we've double the finance available under the critical minerals facility, which supports the projects required to secure the minerals of the future. I note, Senator Sterle, that there are a lot of people who've had a bit to say about the Prime Minister's international engagement, but this is an example of why it is important to have international engagement: because it delivers these types of investments that create jobs for Australians.

This facility is aligned with our critical minerals strategy, which clearly outlines our vision for Australia to be the supplier of choice of critical minerals to the world. Not only will be export our ores; we will provide more processed and refined material to capture more value here in Australia. The Albanese government is investing our ability to build, refine and manufacture things here in Australia. We want to have a future built in Australia. Our resources sector and our manufacturing sector will work hand in hand to deliver the jobs of the future.

Research from University of California Berkeley has found that every skilled job creating in advanced manufacturing creates 2.5 jobs in the local economy. (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator Sterle, first supplementary?

Glenn Sterle (WA, Australian Labor Party) Share this | Link to this | Hansard source

Noting that a sustainable and reliable supply of critical minerals is vital to supporting the Australian and United States manufacturing sector and that Australia is ideally positioned to provide responsibly produced and processed critical minerals to fulfil this demand, can the minister please outline what other measures the Albanese government is delivering to ensure our critical minerals industry can grow and thrive into the future?

Murray Watt (Queensland, Australian Labor Party, Minister for Agriculture, Fisheries and Forestry) Share this | Link to this | Hansard source

I certainly can. Earlier this year Minister Madeleine King announced close to $50 million in grants under the Critical Minerals Development Program. You might be interested to know, Senator Sterle, that those grants included $5.9 million to the Browns Range heavy rare earths project in Halls Creek, in your state of Western Australia, creating 54 new jobs, and $6.25 million to the magnesium refinery pilot plan in Collie, Western Australia, creating 46 new jobs. Beyond that, we've also committed $57.1 million for international partnerships in critical minerals. The Minister for Resources has been working with counterparts in India, the United States and across Europe to progress our shared interest in building strong and diverse global supply chains in critical minerals. We also know all the levers to build our industry can't just sit in one portfolio, and that's why Minister Husic is working with the newly appointed National Reconstruction Fund board to deliver the $1 billion earmarked to support value-adding in resources.

Sue Lines (President) Share this | Link to this | Hansard source

Senator Sterle, second supplementary?

Glenn Sterle (WA, Australian Labor Party) Share this | Link to this | Hansard source

Recognising the expanded critical minerals facility supports the Australian government's Critical Minerals Strategy 2023-2030, why has the Albanese government taken this approach in preference to other proposed approaches?

Murray Watt (Queensland, Australian Labor Party, Minister for Agriculture, Fisheries and Forestry) Share this | Link to this | Hansard source

Thank you, Senator Sterle. The Albanese government's Critical Minerals Strategy sets a plan and a framework to grow Australia's critical minerals industry, and the $2 billion expansion to the Critical Minerals Facility will support projects that align with that strategy. I do remember a lot of announcements by the former government when it came to critical minerals, but, as with so many other features of their government, there were lots of announcements and no real delivery, and it is the same when it comes to critical minerals. To pick just one way in which our approach differs, apart from announcements that actually deliver, we are a government that is committed to consultation with industry. Consultation with industry didn't seem to be a priority of the Liberals and the Nationals, just as delivery didn't seem to be a priority. They delivered two critical minerals strategies and a critical minerals list—lots of big announcements—but they hardly delivered anything and hardly consulted anyone. This government is committed to acting with transparency and integrity and, unlike the Liberals and Nationals, we will actually deliver.