Chamber of Minerals and Energy WA Archives - The Chamber of Minerals and Energy of Western Australia

A future made in Australia with WA resources

Natasha Mutch — Tue, 14 May 2024 11:03:42 +0000

“These significant investments recognise the central role our resources will continue to play in our economy and future prosperity”
CME Chief Executive Officer, Rebecca Tomkinson

The Chamber of Minerals and Energy of WA (CME) has welcomed the Federal Government’s 2024-25 Budget and its centrepiece $22.7 billion Future Made in Australia package including a $7 billion investment in processing critical minerals.

CME Chief Executive Officer, Rebecca Tomkinson, said WA’s resources sector had once again contributed to a strong federal budget position, with higher commodity prices driving an additional $5.5 billion in company tax receipts in 2024-25 relative to the Mid-Year Economic and Fiscal Outlook.

“These significant investments recognise the central role our resources will continue to play in our economy and future prosperity,” said Ms Tomkinson.

“It’s pleasing to see the Federal Government adopt CME recommendations such as a production tax incentive for critical minerals, funding for common-user infrastructure and support to bridge the commerciality gap for renewable hydrogen singled out in the Budget under the Future Made in Australia package. Reforms to streamline Australia’s foreign investment review processes for low-risk investors is an important complementary measure.”

Ms Tomkinson also noted the Federal Government’s pre-Budget announcement last week of $566 million under the Resourcing Australia’s Prosperity initiative to boost data collection and mapping of resources deposits on land and under the seabed.

Minister King’s strong engagement with industry is evident in the design of the initiatives announced today.

“Recommendations for unlocking investment were at the heart of CME’s Federal Pre-Budget Submission, so it’s positive to see the government has paid attention to exploration’s role in developing the pipeline of resources projects that will support the energy transition,” she said.

“We need to ensure that the work being done to improve the identification of resources deposits is complemented by fit-for-purpose policies and frameworks to develop those opportunities in a timely and efficient way.

“When the WA resources sector is strong and competitive, it has a positive flow-on effect for the Australian economy and community.”

However, she reiterated that ensuring a strong ongoing contribution from the resources sector would require inter-departmental coordination if strategic industry and decarbonisation ambitions were to be realised.

“We need assurances that our sector, which is contributing so much to the state and national economies, is not hamstrung by unintended consequences from reforms in the environmental approvals and industrial relations space,” Ms Tomkinson said.

“The Government needs to ensure policies are formed on the bedrock of timely and efficient approvals and competitive fiscal and policy settings across energy, industrial relations and enabling infrastructure.”

Ms Tomkinson added that the establishment of a National Interest Framework to guide the Federal Government’s support under the Future Made in Australia policy made strategic sense.

“We need to play to our strengths, develop sovereign capabilities in critical areas and be realistic about where we can and can’t compete. Embracing those core objectives opens up opportunities to work more strategically with our trading partners.”

Key announcements in the Budget included:

Critical Minerals Production Tax Incentive – $7 billion over the 11 years from 2023-24 to provide a 10 per cent credit for relevant processing and refining costs for Australia’s 31 critical minerals. The incentive will be applicable for up to 10 years per project, for production between 2027–28 and 2039–40 by projects that reach final investment decisions by 2030.
Hydrogen Production Tax Incentive – $6.7 billion over the 10 years from 2024-25 to provide a $2/kg incentive to support the growth of a competitive renewable hydrogen industry and Australia’s decarbonisation. The incentive will be applicable for up to 10 years per project, for production between 2027–28 and 2039–40.
Future Made in Australia Innovation Fund – $1.7 billion over ten years from 2024–25 to support innovation, commercialisation, pilot and early-stage development in priority sectors including renewable hydrogen, green metals, low carbon liquid fuels and clean energy technology manufacturing such as batteries.
Battery Breakthrough Initiative – $523.2 million over seven years from 2024–25 to promote the development of battery manufacturing capabilities through production incentives targeted at the highest value opportunities in the supply chain.
Strengthening Approvals Processes – $182.7 million over 8 years from 2023-24 to strengthen approvals for renewable energy, transmission and critical minerals projects, improve social license outcomes, reduce the backlog of complex cultural heritage applications and streamline Australia’s foreign investment applications.

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WA’s budget surplus underpinned by a strong resources sector…again

Natasha Mutch — Thu, 09 May 2024 06:20:48 +0000

“WA continues to produce almost half the nation’s goods exports, helping to generate almost $260 billion for the nation.”
CME Chief Executive Officer, Rebecca Tomkinson

Western Australia’s buoyant mining and resources sector has again boosted this year’s State Budget, producing its sixth consecutive surplus, with royalties alone accounting for 26.5 per cent of general government revenue.

The Chamber of Minerals and Energy of WA’s (CME) Chief Executive Officer, Rebecca Tomkinson, said today’s 2024-25 State Budget highlighted the substantial ongoing contribution of the minerals and energy sectors to WA’s economic and social health, adding that the provision went beyond dollars and cents.

“The contributions of our members collectively enable the WA and Federal Governments to provide cost of living relief to WA families, fund our essential infrastructure, deliver frontline services in health, housing and education, and support our communities,” said Ms Tomkinson.

“That’s all underpinned by factors such as the strong confidence of WA businesses, with resources at the top of that tree. There’s an expected 13.25 per cent increase in business investment this year – the highest in more than a decade.

“WA continues to produce almost half the nation’s goods exports, helping to generate almost $260 billion for the nation.”

Ms Tomkinson added that the $3.2 billion budget surplus is significantly aided by strong royalty collections – estimated to reach $11.9 billion in 2023-24 – and payroll tax, to which the WA resources sector is the single largest contributor.

She also warned that while some commodity prices were reasonably buoyant now, State and Federal Governments needed the agility to mitigate strong geopolitical pressures and keep Australia’s industry competitive across the board.

“This budget comes at a critical time for our state’s resources sector, with rising costs, falling commodity prices and strong global competition testing our industry’s resilience,” she said.

“For our sector’s contribution to jobs, local businesses, communities and government revenues to continue to grow we need the basics from the WA Government: efficient approvals, turnkey strategic industrial areas and a low emission, reliable and cost-competitive energy system.

Ms Tomkinson also highlighted that WA’s energy transition towards renewables remained a significant challenge for this decade, adding that CME had called for a draft master transmission plan for the South West Interconnected System (SWIS) along with proposed funding models to be delivered by mid-2024.

Major resources sector-related budget announcements included:

$500 million for the Strategic Industries Fund to deliver common-user and other enabling infrastructure at Strategic Industrial Areas (SIAs) across regional and metropolitan WA.
$200 million for a New Critical Minerals Advanced Processing Common User Facility, co-funded by the Commonwealth.
$324 million to undertake extensive planning and procure long-lead transmission infrastructure for the SWIS to unlock industry growth and connect more renewable energy.
$147.6 million to support the development of common-user network infrastructure in the North West Interconnected System to open up new opportunities for clean energy.
$373 million for maintenance and upgrade projects at WA ports.
$36.4 million to cut green tape and speed up approvals.

Media contact: Natasha Mutch n.mutch@cmewa.com

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CME’s 2024 Women in Resources Awards winners announced

Natasha Mutch — Fri, 22 Mar 2024 22:52:51 +0000

A crowd of more than 1000 people gathered at the Perth Exhibition and Convention Centre last night to celebrate the inspirational stories highlighted at the 15^th annual Chamber and Minerals and Energy of WA (CME) Women In Resources Awards.

CME Chief Executive, Rebecca Tomkinson, said the broad cross-section of the WA mining and resources community represented by the winners highlighted a sector-wide commitment to diversity and inclusion.

“WIRA is very much our sector’s night of nights and the award recipients every year are an inspiration to others,” said Ms Tomkinson.

“Their stories, achievements and leadership qualities show what is possible in WA mining and resources, and also the great benefit that diversity brings to our sector.

“As an industry, we are making progress towards the gender parity we aspire to, with a significant increase in the rate of participation for women compared with a decade ago, but there is still much work to be done.

“More women in resources means a louder voice advocating for an inclusive work environment that benefits from a diversity of problem solving.

“It also means more career options are available to our younger generations, and a more balanced industry workforce means engaged, diverse thinking about what our best energy future can look like.

“By celebrating not only our winners but all our finalists, I hope we can highlight the jobs, career pathways and opportunities available to women in our sector, along with work being undertaken to ensure safe and inclusive workspaces for all of our 157,000-plus employees.”

The 2024 WIRA award recipients are:

Outstanding Company Initiative Award

Monadelphous – Crane Operations Pathway Traineeship Program

Bio available https://wira.net.au/finalists/crane-operations-pathway-traineeship-program-monadelphous/

Women in Resources Technological Innovation Award

Evelyn Ng, Callidus Group

Bio available https://wira.net.au/finalists/evelyn-ng/

Outstanding Operator / Technician / Trade Award

Dianne Deegan, Inpex

Bio available https://wira.net.au/finalists/dianne-deegan/

Outstanding Young Woman in Resources

Eliza Dennis, Shell Australia