Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

We have heard those opposite claim there is nothing further that can be done with regard to science and innovation in the steel industry. It is a classic case where ignorance cannot be enlightened. We know, for instance, that CSIRO have been working with BlueScope and OneSteel on a low-carbon breakthrough and they have been doing so for the last five years. CSIRO's integrated steelmaking process is one of the few known technologies which can deliver a substantial cut in carbon emissions at minimum cost to smelters. This is a proposition we are now likely to see put into commercial operation in a very short period of time.

The estimated value of this knowledge over the next 20 years is some $42 billion. That is assuming just a 10 per cent market penetration. This is not just some incredible dream. These are practical measures that science can deliver to industry. And industry working in collaboration with our scientists is able to advance and produce the high-skilled— (Time expired)