The Australian Senate has passed the Future Made in Australia (Production Tax Credit and Other Measures) Bill 2024, which introduces tax incentives to boost investment in the nation’s critical minerals sector, vital for high-tech and green industries. The bill includes the Critical Minerals Production Tax Incentive (CMPTI) and the Hydrogen Production Tax Incentive. The CMPTI offers a 10% expenditure credit for processing Australia's 31 critical minerals, supporting projects operational from 2027–28 to 2039–40. The Hydrogen Production Tax Incentive provides $2 (A$3.19) for every kilogram of renewable hydrogen produced. These incentives aim to drive investment in renewable energy technologies, electric vehicles, and defence applications. Prime Minister Anthony Albanese highlighted the bill's role in fostering thriving industries through measures like Free TAFE and National Reconstruction Fund. The bill is projected to create more than 400,000 new jobs by 2040 in sectors such as green aluminium, solar and battery manufacturing, green hydrogen, and critical minerals. Industry associations like ACTU and AMEC have praised the bill, emphasizing its potential to stimulate billions in new investment in critical minerals processing. The Chamber of Minerals and Energy WA also welcomed the legislation, stating it would reinforce Australia's position in the global energy transition and attract investors to the country's mining industry.