Australia's energy and mining industry leaders are urging the government to accelerate efforts to become a global leader in green metals production. A consultation paper under the 'Future Made in Australia' bill emphasizes the economic potential of increasing steel production using renewable sources, with projections of A$122 billion annually by 2040. The country's comparative advantages in iron ore, bauxite, and alumina production position it well in the shift towards green steel, even though it currently ranks 28th globally. The Clean Energy Council and Magnetite Mines support the initiative but stress the need for swift action due to the carbon challenges in the steel industry. Australia's vast reserves make it an attractive destination for green metals investment, with major players like Rio Tinto already exploring hydrogen production for sustainable refining processes. While the government has committed significant funds to renewable hydrogen production and green metals technologies, industry leaders emphasize the necessity for international investment and collaborative research to drive the sector's growth. Recommendations include coordinating national efforts and incentivizing industry-university partnerships for targeted innovation. The consultation phase has concluded, signaling the importance of timely government action to seize the opportunities presented in the green metals industry.