Monday 9th Dec, 2019

New plan unveiled to grow Australian resources sector

Eight Queensland resource projects will now be prohibited from employing a fully fly-fin fly-out (FIFO) workforce, in order to support local jobs.

The Federal Government has released a national resources plan to maintain the competitiveness of Australia’s resources sector.

It aims to guide all governments’ future actions to ensure Australia is home to the world’s most advanced, innovative and successful resources sector which can deliver sustained prosperity and social development for the nation.

To do so, it has outlines five key priorities: improving the sector’s business settings, promoting resources exploration and basin development, leveraging research and development, supporting a skilled and inclusive workforce, and strengthening communities.

It is the first such plan for more than 20 years and outlines how the Federal Government will attract investment, develop new resources and markets and share the benefits with regional communities.

Some of the elements within the plan will be progressed in collaboration with state and territory governments through the Council of Australian Governments Energy Council.

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This includes an agreement to establish a new minerals work program to boost exploration, develop a data strategy to de-risk investment decisions, and build community confidence in the system.

Priority status has also been granted for funding applications related to critical minerals projects under the $20 million Round 7 of the Cooperative Research Centres Project.

“Australia’s resources sector continues to boom,” Minister for Resources and Northern Australia Matthew Canavan said in the national resources statement.

“However, there is no guarantee that our resources sector will maintain this record. This is why the Australian Government is publishing the first national resources statement for two decades.

“Getting these right will allow Australia to better capitalise on global market opportunities as they arise,” Canavan said.