New funding to support Australia’s Global Resources Strategy
The Australian Government has announced it will invest $20.1 million over two years to deliver a Global Resources Strategy.
The strategy will help strengthen our resources exports, secure new global markets and promote Australia as a reliable and responsible supplier to the world.
The strategy is part of a whole-of-government effort to help Australia build resilience to trade shocks such as the global pandemic.
A Global Resources Strategy will:
- diversify and strengthen Australia’s resources exports and improve access key export markets
- boost investment in regional Australia by exploring new markets in the Indo-Pacific, Europe and North America,
- support the jobs of 262,000 people who currently work in the sector
- help create even more jobs through expansion of our export markets
- support new investment in research and commercialisation of alternative uses for high-emissions commodities
- provide greater international focus for our world-leading and innovative mining equipment, technology and services (METS) sector
- support our resources sector to remain the world’s supplier of choice for major commodities as well as our critical minerals and new energy resources such as hydrogen
The strategy will provide a framework to expand our existing commodity markets as well as develop new partnerships.
It will do this through:
- Release of the Global Resources Statement, that sets out Australia as a reliable, responsible and ready for the future investment destination for resources exploration and supply
- new analysis of the barriers to trade for key commodities and minerals
- research and development of alternative uses for commodities and examining opportunities to commercialise them
- leveraging existing Free Trade Agreements with key trading partners to expand existing, and maximise new market opportunities, for our commodities and critical minerals through a range of measures such as short term trade missions
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