Australia’s mining and exploration industry has continued to welcome the Australian Government’s 2026–27 Federal Budget, with the sector pointing to stronger fuel security, streamlined project approvals and support for critical minerals as key measures expected to support long-term industry growth while improving certainty for operators across Australia.
The Association of Mining and Exploration Companies (AMEC) has backed the Government’s commitment of $500 million over four years toward faster and more efficient project assessment pathways under reforms to the Environmental Protection and Biodiversity Act.
“The commitment towards greater use of technology, including AI-assisted assessment processes, has the potential to significantly improve timelines and reduce unnecessary administrative burden.”
AMEC said practical bilateral agreements between the Commonwealth and states will now be key to ensuring the reforms deliver faster approvals while maintaining environmental standards.
The Australian Drilling Industry Association (ADIA) also welcomed the budget, particularly measures aimed at easing costs for drilling contractors and improving long-term operational certainty.
“There are genuine wins for our members, and there are also signals our industry needs to plan around carefully.”
The budget’s temporary fuel excise reduction and broader fuel resilience measures have been highlighted as major positives for contractors operating in remote regions.
“The short-term excise relief is welcome, but the long-term fuel security architecture is what really matters to operators running rigs in the Pilbara, the Northern Territory or the Cooper Basin,” Miller said.
Industry groups also highlighted the establishment of a Critical Minerals Strategic Reserve as a strong signal for future exploration activity.
“A strategic reserve is, in effect, a buyer of last resort for critical minerals,” Miller said.
“That changes the risk profile for junior explorers and, by extension, for the drilling contractors who service them.”
While welcoming the reforms, both organisations said continued support for exploration will remain critical to securing Australia’s future pipeline of projects and mineral discoveries.
“Exploration is the foundation of every future mine, and if Australia wants a future made in Australia then we must continue investing in the discovery pipeline that underpins it,” Pearce said.