The Australian Senate has approved Labor's $13.7 billion tax breaks for critical minerals processing and green hydrogen production. This move marks a significant pre-election boost for Anthony Albanese. The scheme, announced in the 2024 federal budget, includes a 10% tax concession for processing critical minerals like lithium and nickel, as well as a $2 per kilogram incentive for green hydrogen production from 2027 to 2040. The government aims to kickstart emerging green industries and reduce dependence on China's critical minerals supply chain. While the Greens and crossbenchers supported the bill, the Coalition opposed it, criticizing it as 'billions for billionaires.' The opposition is part of Labor's strategy to reduce reliance on China's minerals supply and to boost Australia's economic prospects. The bill will now return to the lower house for final approval. Treasurer Jim Chalmers, alongside Resources Minister Madeleine King, Energy Minister Chris Bowen, and Assistant Minister Tim Ayres, issued a joint statement emphasizing the bill's role in helping Australia seize economic and industrial opportunities in the net zero transition. This move showcases a positive sentiment towards the potential of hydrogen and critical minerals industries in Australia.