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Update on Australia’s National Resources Statement

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28 February 2020

February marks the first anniversary of the release of the National Resources Statement.

The National Resources Statement sets a long-term vision for Australia to have the world’s most advanced, innovative and successful resources which delivers sustained prosperity and development for all Australians.

In the first year of its implementation, the government has made significant progress towards achieving the statement’s policy goals. We have done this by working closely with industry, states and territories, communities and our international partners.

Australia’s resources sector is also growing. Since we released the statement, we’ve seen record earnings in resource and energy exports.

National strategies

In 2019 we launched two plans to grow the resources industry and create jobs:

Key achievements

Boosting new resources projects

Exploring, promoting and developing new onshore and offshore resource prospects:

  • Support for new gas development in the Beetaloo Basin ($8.4 million).
  • New geoscience data to inform industry exploration and investment through the Exploring for the Future program ($100 million).
  • The 2019 acreage release for offshore exploration is the largest since 2000.

Supporting new industries

Positioning for economic opportunities and new jobs, including to meet global demand for new technologies, such as renewable energy, electric vehicles and smart phones:

Strengthening global partnerships

Creating new opportunities with trading partners and the G20, including new resources partnerships signed with Japan and the United States:

  • Partnering with Japan and the Victorian Government on the Hydrogen Energy Supply Chain project.
  • Collaborating with the United States and other partners to develop critical mineral assets that underpin emerging technologies in aerospace, defence, and telecommunications.

Best-practice regulation

Ensuring all government regulation is efficient, and meets the needs of industry, investors and the community:

  • The Productivity Commission has commenced a study of resources regulation. The final report will be delivered in August 2020.
  • An independent review into the offshore regulator NOPSEMA found it had appropriate processes and procedures to assessing environment plans.

Pursuing environmental outcomes

Investigating new ways of achieving efficient and effective use of fossil fuels, while reducing Australia’s carbon footprint:

  • Improving battery waste recycling and development of critical minerals projects through Cooperative Research Centre Projects Grants ($20 million).
  • Supporting the large-scale deployment of carbon capture and storage projects in Australia through the  Carbon Capture and Storage Research Development and Demonstration fund ($24.5 million).

Supporting communities and families

Working with states, territories and councils to maximise local economic opportunities and ensure communities benefit from a strong resources sector:

  • Support the Barkly Regional Deal to improve productivity and liveability of the region, stimulating economic growth, reducing overcrowding and improving child safety ($45.4 million).
  • Investment in a new School of Mines and Manufacturing at Central Queensland University will boost local skills and jobs, and attract global research opportunities to Gladstone and Rockhampton ($30 million).

As we work toward 2030, the government will continue to pursue the long-term vision and resources agenda under the National Resources Statement. It will also continue to support investment, develop new regions, build new industries and create new jobs for all Australians.

Download

Download a printable summary of these achievements, Australia’s National Resources Statement: 2020 Update [1.91MB PDF]

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Contact us

Email Resources@industry.gov.au