Minister for Resources Madeleine King attended the APPEA 2023 conference and exhibition, where she reiterated the Federal Government’s commitment to reaching zero emissions by 2050.
The APPEA 2023 conference had the theme of ‘lead, shape, innovate – accelerating to net zero’.
“As I have said many times before – the pathway to net zero runs through the Australian resources sector,” King said.
The Minister for Resources said traditional commodities and energy resources will play an essential role in supporting Australia’s economy transition to net zero, while also continuing to underwrite energy security for the country’s key trading partners.
“Whether it is the minerals that go into solar panels and batteries, or the gas required to process many of those minerals today, the net zero transition is enabled and underpinned by the Australian resources sector,” King said.
While the net zero transformation will create opportunities for the resources sector, King said it will equally present challenges.
“The (Federal) Government has taken decisions in recent months to implement our agenda, including legislating landmark climate reforms that enable Australia to reach our net zero commitments,” King said.
King’s speech at the APPEA 2023 conference comes as the 2023 Federal Budget provided a boost for critical minerals.
For critical minerals, budget funding included $57.1 million for the established Critical Minerals International Partnerships Program and $21.1 million to ensure the ongoing operation of the Critical Minerals Office.
A total of $2.2 million was also budgeted for the Treasury to track compliance in the critical minerals sector, while $12 million will go toward a review of the environmental management regime for offshore petroleum and greenhouse gas storage activities.
“Critical minerals including rare earths are crucial components of low-emissions technologies such as batteries, electric vehicles and solar panels. They will be increasingly important to global efforts to decarbonise and reach Paris commitments,” King said in response to the 2023 Federal Budget.