The Australian government has presented legislation for the Critical Minerals Production Tax Incentive (CMPTI) to Parliament, a move applauded by industry stakeholders. The Association of Mining and Exploration Companies (AMEC) expressed support for the bill, highlighting its transformative potential for Australia's critical minerals sector. The CMPTI, with a $7-billion commitment over ten years covering 31 critical minerals, aims to encourage companies to invest in downstream processing and receive a 10% tax credit. Additionally, the Bill includes a Hydrogen Production Tax Incentive to promote renewable hydrogen production. Warren Pearce, CEO of AMEC, emphasized the importance of seizing the opportunity to develop a value-added industry in Australia. Pearce also stressed the zero-risk approach of the policy, where companies must produce value-added products to receive the tax credit. Furthermore, AMEC anticipates the incentive will drive growth in the critical minerals industry over time, particularly benefiting states like Western Australia and Queensland. The industry also highlighted the need for comprehensive government support beyond tax incentives to promote downstream processing and ensure competitiveness in the global market. The focus on energy transition and job creation underscores the government's commitment to sustainable economic development and industry growth.