The Chamber of Minerals and Energy of WA (CME) has emphasised the need for the roundtable, hosted by Resources Minister Madeleine King, to result in action supporting the WA critical minerals sector and its role in the energy transition.
CME Chief Executive Rebecca Tomkinson said governments must streamline regulatory approvals and provide policy and fiscal certainty to enhance Australia’s competitive position.
“Targeted and evidence-based government support for the nickel and lithium sectors in the near-term makes sense given the significance of these industries to local employment, the economy and our national strategic interests,” Tomkinson stated.
“We have said before that deferred royalty payments would likely be the most commercially impactful and administratively simple support measure the WA Government could enact. This should be considered in the immediate term alongside possible measures at a federal level such as a production tax credit.”
According to her, the roundtables tackled various initiatives that the State and Federal governments can implement to maintain competitiveness in the WA resources sector across all commodities produced.
Tomkinson highlighted the potential for State and Federal governments to address the need for more efficiency, timeliness, and certainty in approvals, while also highlighting the Federal Government’s control over competitive fiscal settings and industrial relations reforms.
“The Government can use today’s collective discussions as a catalyst to move forward on initiatives that reduce financing, capital or operating costs such as low-cost funding, capital grants or production tax credits,” she said.
She noted that the Australian Government also has the chance to collaborate with trading partners to enhance price and ESG transparency in critical and battery minerals markets.
“At the state level, the provision of turnkey strategic industrial areas and other common user infrastructure, including low emissions, reliable and cost-competitive energy, can drive economies of scale and reduce operating costs.”
“WA has the resources, operational stability and ESG credentials to deliver what the world needs for its energy future but, like any business, we need to be agile and competitive.”
According to Tomkinson, the Australian Critical Minerals Strategy 2023-2030 is unclear in terms of actual assistance for the critical minerals sector’s immediate and long-term sustainability and growth.
“We’re still waiting on the detail behind the critical minerals list and the strategic materials list to determine the benefits in the near, mid or longer-term,” she said.
