The Minerals Council of Australia (MCA) has submitted a 2024–25 pre-budget submission to the Federal Government, calling for further investment in the mining industry.
The mining industry association said recent closures and curtailments in alumina, nickel and lithium operations are indicative of growing international competitive pressures and deteriorating domestic business conditions facing Australian projects.
As a result, the MCA has called for the Federal Government to put business growth and investment at the centre of its policymaking.
In particular, the submission calls for the Federal Government to prioritise:
- recommitting to no new or additional tax imposts on the minerals industry
- reversing productivity destroying workplace relations changes
- increasing core funding for Geoscience Australia to support Exploring for the Future
- undertaking cultural mapping to improve cultural heritage outcomes and the project approvals process
- improving the capacity for Traditional Custodians to sustainably manage native title rights and interests, including investment opportunities
- making foreign investment in future facing materials related projects more efficient
- prioritising common user infrastructure planning for resource projects
- reducing adjustment costs of meeting near-term emissions targets.
“Australia needs government to deliver comprehensive policy reform to grow the economy, raise productivity and address the serious cost impacts on mining and mineral processing projects from inefficient policy settings,” MCA said.
“Failure to act will lead to further announcements of shutdowns, curtailments, and job losses. And the anticipated flow of new investment in mining, minerals processing and advanced technologies to support the global clean energy transition will not transpire.”
The MCA Victorian branch submitted a similar pre-budget submission to the Victorian Government in late January.