Future Made in Australia Bill Set to Elevate Australia's Critical Minerals and Hydrogen Production
Key Ideas
- The Chamber of Minerals and Energy WA (CME) is supportive of the Future Made in Australia Bill, which offers incentives for critical minerals processing and hydrogen production.
- The bill includes a Hydrogen Production Tax Incentive and a Critical Minerals Production Tax Incentive to encourage investment in these sectors.
- CME emphasizes the importance of aligning State and Federal policies to support the resources sector and compete effectively in the global market for value-adding industries.
- The passage of this legislation is crucial to provide certainty to industry and attract more investment for strategic industries in Australia.
The Chamber of Minerals and Energy WA (CME) has expressed its support for the Future Made in Australia Bill introduced to the Parliament by the Federal Government. This bill aims to provide significant incentives for critical minerals processing and hydrogen production. CME's Chief Executive Officer, Rebecca Tomkinson, highlighted the importance of timely passage of the legislation to implement key budget announcements and attract more investment to support strategic industries. The Bill includes provisions such as a Hydrogen Production Tax Incentive and a Critical Minerals Production Tax Incentive to encourage renewable hydrogen production and refining of critical minerals. These incentives are part of a broader strategy to compete globally in downstream processing. Ms Tomkinson emphasized the need for government support beyond tax credits, including factors like energy prices and policy alignment to capitalize on the opportunities in the net zero transition. The support for aligning State and Federal policies is crucial for the resources sector to thrive. Overall, the passage of this bill is seen as a positive step towards providing certainty to industry and signaling important investment opportunities in critical minerals and hydrogen production in Australia.
Topics
Policy
Renewable Energy
Energy Transition
Mining Industry
Investment Incentives
Policy Alignment
Strategic Industries
Downstream Processing
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