Treasurer Josh Frydenberg will hand down the 2022 Federal Budget later today as Australia continues its uphill battle for economic recovery.
Below some resources CEOs with projects across the nation weigh in on their expectations for the 2022 Budget and how the government can most effectively address issues pertaining to their sector.
Andrew Sparke, Executive Chairman of QMines
Currently, there is no government support nor incentives for businesses in going green or carbon neutral, and, in some ways, it is disincentivised by the government with no fuel rebate when using 100% renewable fuel. There isn’t a proactive approach to addressing climate change but rather a reactive approach. If the Government expects businesses to be carbon neutral, then they should model this by being carbon neutral themselves in order to lead the charge. As well as this, businesses who are making an impact in this space should be rewarded or at least recognised for their efforts.
James Fox, Managing Director of PNX Metals
Streamlined, transparent and consistent risk-based approvals process – a ‘one-stop-shop’ – would be ideal. The multiple layers of bureaucracy add no value apart from to consultants and government departments who benefit by being employed. There is no incentive to reduce complexity for small companies.
We also want to see additional vertical integration of industries, with value added to our mining and resources production, instead of sending overseas just to then buy it back. Additionally, we would like to see regional infrastructure hubs to reduce power costs and increase availability in remote areas, whilst increasing skilled immigration and targeted training will assist with labour shortages
Sam Spring, President and CEO of Kincora Copper
Increased support for visas supporting international geologists and other resource sector specialists certainly would be welcome. It is amazing (and ironic) that with the shortage of skilled labour in the industry that there are so many good geologists who have been educated in Australia but struggle to get visas to be able to then get field experience in the country. Further initiatives to support critical/decarbonisation commodities would also be welcome, as well as reducing red tape to support streamlined federal, state and local counsel approvals.
Michael Moore, Managing Director and Board Member of Golden State Mining
Greater support for exploration in terms of grants, such as an expansion of the Accelerator grants program announced on 16 March to support Australia’s critical minerals sector would make a significant impact. In addition, a reduction of red and green tape to facilitate the development of projects unlocking the huge potential of Australia’s critical mineral and lithium resources, which would in turn support zero emissions targets while reducing our dependence on China for these resources.
We want to attract more young people from school to study for a degree in science and resource-related disciplines, as the numbers are desperately low and have been for a number of years. Because of this, mining should be covered in the school curriculum, to include its benefits, risks and relevance to society, as it would enable the industry to be better held to account by a more informed community.