Susan McDonald (Queensland, National Party, Shadow Minister for Resources) Share this | Hansard source

Today we have seen yet another no-substance announcement from this Labor government. The update to the Critical Minerals Strategy had the opportunity to set out the plan for developing Australia's critical minerals sector into the future and to compete on the world stage for investment and Australian jobs. The coalition remain committed supporters of this sector. With policies developed by former ministers Pitt and Canavan we set the foundations for growth for the sector. Programs like the $2 billion Critical Minerals Facility, the Critical Minerals Research and Development Centre and the $200 million Critical Minerals Accelerator were all created to support investment in Australia's critical minerals.

Not only have Labor cut $100 million in funding for the accelerator but they have failed to announce any new programs to directly invest in projects within Australia. Their supposedly new investment of $500 million under the Northern Australia Infrastructure Facility is in fact reallocated funding from the coalition's $2 billion increase. Ironically, two of the new focus point for the strategy are on increasing a skilled workforce and investing in infrastructure to support the sector. Yet, what is Labor's track record on this? Labor has cut tens of billions of dollars of infrastructure projects and programs. Further, the government is trying to push through destructive IR legislation that is at odds with our nation's mining sector, so, despite the big announcement by this government, this strategy has failed to provide a plan for the sector on its future. It has failed to add minerals like copper, zinc, aluminium, potash or phosphate to the critical minerals list. Without another review until 2026, Labor will fail to provide certainty to the industry on the future of the sector, and Australia and Australians will miss out on future investment, tax income and well-paid jobs.