Industry Welcomes Albanese Re-Election and Continuity of Resources Policies
Anthony Albanese has been re-elected as Prime Minister of Australia, and peak mining industry bodies have welcomed the news.
Future Made in Australia Agenda Moves Forward
The re-elected Government can now continue its ‘Future Made in Australia’ agenda, aimed at maximising the benefits of net-zero transition and strengthening Australia’s place in a shifting global landscape.
Key Resources Policies Set to Continue:
- $1.2 billion Critical Minerals Strategic Reserve
- Ongoing support for companies hit by US tariffs
- 10% refundable tax offset for processing Australia’s 31 listed critical minerals
- $750 million for low-emissions technology development
- $2 billion in green aluminium production credits
- $1 billion to expand green iron manufacturing and supply chains
AMEC Calls for Urgent Action
Warren Pearce, CEO of the Association of Mining and Exploration Companies (AMEC), said the time for action is now.
“We are ready and willing to work constructively with the returned Albanese Government to deliver the minerals and metals critical to Australia’s prosperity and the global energy transition,” Pearce said.
“With a mandate now secured, it is time for action on key policy initiatives that will support long-term investment and drive Australia’s international competitiveness, especially in critical minerals.”
Pearce urged the Government to support the Junior Minerals Exploration Incentive (JMEI).
“You can’t mine what you can’t find,” he said. “The exploration sector is struggling, with investment extremely hard to come by, and this crucial cog in the wheel of mining industry needs clarity around the continuation of JMEI.
“The JMEI is a proven and effective program that stimulates early-stage investment and helps find the minerals in the ground that will power our future economy and net-zero ambitions.
“The exploration industry cannot afford to wait. A clear commitment to the JMEI will deliver a strong signal that Australia is serious about developing its next generation of mining projects.”
WA Chamber Urges Faster Approvals and Investor Confidence
Rebecca Tomkinson, CEO of the Chamber of Minerals and Energy of Western Australia (CME), said environmental approval processes must improve.
“Environmental law reform is long overdue but must deliver on the stated goal of improving outcomes for both the environment and for business,” Tomkinson said.
“The only way to achieve that is through early, open and frequent consultation with all stakeholders.”
Tomkinson also called for smarter, investor-friendly policy settings.
“Investors have options. As a nation, we need to start acting like we’re serious about competing for their capital,” she said.
“The issues impacting our sector have been clearly articulated. Energy prices are too high and rising. Project assessments take far too long. Australia’s corporate tax settings are uncompetitive. Industrial relations changes have broken the crucial connection between productivity and wages growth.
“Australia is well placed to capture a new wave of resources investment to underpin another generation of prosperity – but that wave will pass us by completely if we fail to get the basics right.”
Forrest Backs Green Energy and Strong Global Role
Fortescue founder and executive chairman Andrew Forrest also welcomed the re-election, stressing Australia’s global opportunity.
“In a turbulent world, Australia remains a strong, principled and pragmatic voice,” Forrest said.
“We must now use that voice to back science, seize the green energy opportunity, and strengthen our role in the world with compassion, ambition and purpose.
“In an era shaped by climate change, fragmentation and strategic competition, Australia has the chance to lead with clarity and resolve.
“The (Federal) Government’s commitments — including the Future Made in Australia plan, the Capacity Investment Scheme, the Hydrogen Production Tax Incentive and the Green Iron Fund — provide a strong foundation for a green energy future.”