The Federal Government is investing $20m in a new strategy to diversity exports and find new markets for Australia’s resources and technology.
This comes a day after the announcement of an additional $190m in a new five-year “Our North, Our Future: 2021-2026” plan to grow jobs, digital connectivity and businesses throughout Australia’s north, as well as a further $100m to extend the Junior Minerals Exploration Inventive (JMEI) for four more years.
The Global Resources Strategy, launched by Federal Resources, Water and Norther Territory Minister Keith Pitt in Townsville, aims to secure long-term benefits for the sectors and the Australian economy.
Federal Resources, Water and Northern Australia Minister Keith Pitt said the strategy will help Australia build resilience to trade shocks as the world recovers from the COVID-19 pandemic.
“The Strategy will help boost investment in regional Australia by exploring new markets for our major commodities and critical minerals in the Indo-Pacific, Europe and North America,” he said.
“The Strategy supports the jobs of 262,000 people who currently work in the sector and will help create even more jobs by seeing an expansion in our export markets.
“It will also support new investment in research and commercialisation of alternative uses for some of our commodities and provide greater international focus for our world-leading and innovative mining engineering, technology and services sector.
Mr Pitt says a key focus will be building closer relationships with key trading partners through increased engagement at both government and industry levels.
“We’re looking to explore new export opportunities in South East Asia, where the World Energy Outlook reports demand for major commodities such as thermal coal is expected to increase beyond 2020 levels until 2030,” he said.
“The Strategy will also involve expert advice on opportunities for existing and emerging commodities such as hydrogen and critical minerals.”
“The Strategy will support the Australian resources sector to remain the world’s supplier of choice for our major commodities as well as our critical minerals and new energy resources, such as hydrogen.”
