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

We are the lucky country. Australia's resources of critical minerals rank in the top five globally, and they will be essential in developing renewable energy and clean technology applications, which are a crucial part of today's increasing demands for technological advancements. With global demand growing at a rapid rate, it is an exciting opportunity for the mining sector to work with the energy, transport, aerospace, defence, automotive and telecommunications sectors in order to expand their business and secure investment.

But to do this we need a proper critical minerals strategy. Prior to the adults being elected, the former government made announcements as to the critical minerals plan. However, they failed to appropriate the funding needed to achieve this. Sounds familiar, doesn't it—making announcements without funding. We remember those opposite us running around making promises that they'd made on the back of beer coasters. So we've all been there before. And look—there are none even in here now. Instead of getting on with the job, the priorities of those opposite were solely about getting re-elected; thus, they treated the industry like a cash cow as they sat idly by, doing nothing to protect their workers or take steps to offer the industry longevity. They had more than 21 failed energy policies, which, again, offered the industry no assurance or direction and left Australia in the dark, despite having experts begging to make the investments.

Our budget is a responsible budget. It starts to clean up the mess those opposite left behind and begins to build the future of our Australia that people deserve. This includes the investment of $2 billion in economic benefits and opportunities for Australian families, businesses and communities, as well as new funds to support the growth of clean energy technology, as part of the government's commitment to achieving a 43 per cent reduction in emissions by 2030.

But, unlike those opposite, we will consult with industry experts and ensure that the community's voice is heard, in order to put action behind our promises. Consultation is a good thing. Those opposite shouldn't fear it. This consultation will ensure the future support for the critical minerals industry, ultimately ensuring a coordinated and collaborative approach with the stakeholders to our strategic development.

Our government is investing in critical minerals, such as lithium, cobalt, magnesium and titanium, and rare earths, to enhance Australia's world-class resources sector, diversify global supply chains and meet our growing demands. Our updated funding profile is vital to give our scientific experts more time to develop and deliver on projects, including working with the research community to address technical challenges, which will help reduce the risks involved in delivering these projects and ensure they provide strong scientific and technical outcomes. To maximise these research outcomes, the hub aims to better engage with universities and other researchers, drawing on their insights and expertise. The Critical Minerals Development Program has also been reframed to more closely reflect our objectives, incorporating Australia's decarbonisation opportunity, gender equality and Indigenous participation to ensure that this plan is strengthened across the board to finally give the industry the world-class standards it deserves.

Furthermore, a key role for the hub is to engage with our international partners to progress our research and develop collaboration, which is highly sought after by like-minded countries, including our key trading partners. This, in turn, will provide a welcome pathway for companies involved to access additional incentives through Australia's flag ship R&D program, encouraging businesses to conduct additional activities they may not have undertaken, which initiates space for new knowledge, boosts technological improvements and increases productivity within the Australian economy. Our government is an active government which follows through with its commitments.

I have great faith that together we can fix this steaming pile of mess that the former government left us and bring to light this transparent critical minerals plan that strives to ensure Australia remains a global powerhouse by achieving stable supply, sovereign capabilities and regional growth to face the increase in global demands head on with a thriving yet sustainable Australian critical minerals sector. I'll ensure that your voices will be heard.

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