CME chief executive Paul Everingham said several of the key proposals promoted by CME had been captured in the Government’s response to the report, including the commitment to boosting exploration through advanced seismic and aero-magnetic surveys, developing a data strategy to de-risk investment decisions and priority status for Cooperative Research Centre Projects targeting critical minerals.
“The report clearly highlights the importance of the resources sector to the Australian economy, and the world-leading nature of our industry in terms of health and safety, environment, resource wealth, technology and innovation,” he said.
“Importantly, the Government’s response stresses the need for all levels of government, industry and the community to work together collaboratively to ensure Australia continues to be a world leader and is well placed to maximise its comparative advantage in the international resources trade.
“In order for Australia to have the world’s most advanced, innovative and successful resources sector, it must be supported by Government policy that supports and encourages exploration, investment and expansion.”
Mr Everingham said he was pleased the Government had acknowledged the substantial contribution of the resources sector to the social and economic fabric of Australian society.
“Between 2005 and 2018, the resources sector’s contribution to national GDP grew by about 3.5 per cent and created almost 150,000 new jobs, many of which went to West Australians,” he said.
“We are now heading into an exciting new phase in terms of technology and innovation that will create thousands of new jobs for the next generation of workers and ensure Australia’s resources sector remains at the forefront of world’s best practice.”