Skip to content Skip to sidebar Skip to footer

CME welcomes Federal Budget

The Chamber of Minerals and Energy of WA welcomes the Albanese Government’s Federal Budget and its focus on developing Australia’s critical mineral industry, encouraging low-emissions technology and decarbonisation, and growing the country’s workforce of the future. 

CME Chief Executive Rebecca Tomkinson said the Budget again highlighted the significant contribution the WA mining and resources sector made to economies and communities around the country. 

Treasurer Jim Chalmers reflected on the positive impact of strong commodity prices and demand in his Budget speech. 

“CME and its member companies are incredibly proud of the way the WA mining and resources sector positively influences people’s lives across the country,” Ms Tomkinson said. 

“Our sector’s contributions help fund vital Federal Government investment in healthcare, childcare, education and infrastructure, including important projects in WA. 

“CME and its member companies also welcome Budget measures aimed at boosting the Australian critical minerals industry and decarbonisation across a variety of industries. 

“These measures are very much aligned with the work our sector is already undertaking to grow its ability to extract and refine forward-facing commodities, and to reduce emissions as we work towards net zero targets.” 

Ms Tomkinson said it was pleasing to see the Budget address areas of priority for the WA mining and resources sector. 

“The commitment to the $15 billion National Reconstruction Fund to transform and strengthen industries is most welcome,” Ms Tomkinson said. 

“Up to $1 billion of that being allocated to a Value-Adding In Resources Fund very much aligns with the progress the WA mining and resources sector is already making in expanding its mid and downstream processing capabilities. 

“Our industry, along with many others, has spoken openly about ongoing challenges with skills shortages. It’s encouraging to see this Budget tackle the situation through training measures such as an additional 465,000 fee-free TAFE places, and also by expanding permanent migration and committing more than $42 million to accelerate visa processing and reduce backlogs. 

“We also applaud the $42.5 million allocated over four years to implement the Federal Government’s response to recommendations of the Respect@Work Report, and the $1.7 billion committed over six years to support women’s safety.” 

Among the other significant announcements contained in the Budget, or unveiled in the lead-up to it, and welcomed by the WA mining and resources sector: 

  • $50.5 million to establish an Australian Critical Minerals Research and Development Hub. 
  • $50 million for a Critical Minerals Development Program, to fund competitive grants supporting early and mid-stage projects. 
  • The Pilbara being among three regions sharing in $672.7 million over seven years from 2022–23 towards enabling infrastructure to support emerging industries and economic transition 
  • $4.7 billion over four years from 2022–23 (and $1.7 billion per year ongoing) to deliver cheaper child care, easing the cost of living for families and reducing barriers to greater workforce participation.   
  • The Rewiring The Nation initiative, with $20 billion provided to rebuild and modernise the energy grid. 
  • $275.7 million over four years from 2022–23 towards establishing a strong Department of Climate Change, Energy, the Environment and Water.  
  • Expansion of the Migration Program to 195,000 places in 2022–23, with more than 90 per cent of new places for skilled migrants, and more than a quarter targeted to regional areas. 
  • Establishment of a $1.9 billion Powering the Regions Fund to help transform regional industries and help regional Australians access the economic opportunities of decarbonisation. 
  • $100 million to the New Energy Apprenticeships and New Energy Skills programs. 
  • $105.2 million to support First Nations people to respond to climate change in their communities. 
  • Grants of $113.6 million for manufacturing upgrades to boost Australia’s competitiveness, invest in its regions and reduce carbon output.  
  • $634 million to fund transport infrastructure in WA, including the $400 million for the Alice Springs to Halls Creek Corridor upgrade. 
  • Provision of 20,000 additional university places for disadvantaged Australians. 
  • $10.0 million over three years from 2022–23 to support research and development to advance new commercially viable projects for methane abatement in the resources sector. 
  • $14.2 million over four years from 2022–23 to develop a National Rail Manufacturing Plan to ensure more trains are built in Australia, support skilled manufacturing and expand the local rail industry. 
  • $47.2 million over six years from 2022–23 to support the development of talent and leadership in Australian science and technology. 
  • $5.8 million over five years from 2022–23 to support women in science, technology, engineering and maths (STEM) through the Women in STEM and Entrepreneurship program and to undertake an independent review of existing STEM programs.