Varun Ghosh (WA, Australian Labor Party) Share this | Link to this | Hansard source

President, this is not my first speech. My question is to Senator Farrell, the Minister representing the Prime Minister. With reference to the cabinet's visit to the Northern Territory last week and the government's announcement of a significant package of economic development and cost-of-living measures, can the minister update the Senate on the impact of these announcements last week by the government—including housing, education and critical minerals—and how they will benefit all Territorians?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

I thank Senator Ghosh for his question and wish him a long and successful career in this place. Last week the entire Albanese cabinet made a trip to the Northern Territory, with ministers getting on the ground to hear firsthand from communities, industries and our Territory colleagues. During the trip our government delivered billions of dollars in investment for projects right across the Northern Territory in areas such as education, health and resources.

Minister Clare announced, for example, that our government will deliver at least an additional $737.7 million for public schools in the Northern Territory, which, when combined with a further $330 million from the Territory government, will change lives for kids across the Northern Territory. Minister Burney joined with the Prime Minister to announce a landmark $4 billion investment for remote housing in the Northern Territory to help close the gap between Indigenous and non-Indigenous Australians and make a major difference to the lives of people living in remote communities. With the 50th anniversary of Cyclone Tracy approaching in December, our government will also invest $600,000 to install monuments to memorialise those whose lives were changed forever during that disaster. I was especially pleased to join my Territory colleague Minister Joel Bowden to launch Choose Tourism, a new campaign to attract more workers to the tourism industry and show off the Northern Territory to the world.

These investments will deliver serious economic development in the Territory and ensure that they are well placed to thrive into the future.

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

Senator Ghosh, first supplementary?

Varun Ghosh (WA, Australian Labor Party) Share this | Link to this | Hansard source

I thank the minister for his answer and for highlighting the major investments the government is making in the Territory. Can the minister also update the Senate on our government's investments in critical minerals and rare earth projects in the Northern Territory and how they will not only support economic development but also increase trade with our key partners?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

(—) (): I thank Senator Ghosh for his first supplementary question. The Albanese government is committed to supporting our critical minerals sector, which will help Australia become a renewable energy superpower. That's why we announced $840 million in loans and other financial support for Arafura Resources to build the first integrated rare earth mine and processing facility near Alice Springs. This project involves mining, processing and exporting rare earths to our longstanding trading partners like the Republic of Korea, Germany and the United States for renewable technologies like electric vehicles and wind turbines. Investments in projects like this mean more jobs, including value-adding jobs for Australian workers in Alice Springs on these projects. (Time expired)

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

Senator Ghosh, second supplementary?

Varun Ghosh (WA, Australian Labor Party) Share this | Link to this | Hansard source

Can the minister outline to the Senate why these investments are essential in helping Australia's transition to becoming a renewable energy superpower?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

I thank Senator Ghosh for his second supplementary question. Our government wants Australia to seize the economic opportunities of the transition to a renewable, cleaner economy. The critical minerals which will come from this project are essential for the technologies that will power our net zero future, from batteries to electric cars and wind turbines. That is why we have supported the Arafura Rare Earths project—to kickstart this industry and put us in pole position to reap the benefits of a transition to renewable energy. The race is on to secure global investment for projects to provide trusted, reliable supply of these minerals through diversified supply chains. Our government is committed to help the sector attract this investment so that we can become a renewable energy superpower.