Chalmers the charmer: Mining has been a force for good – I’m here to say thanks
The resources sector has been a force for good in Australia, according to Treasurer Jim Chalmers.
Headlining the final day of the World Mining Congress in Brisbane on Thursday, the Queenslander will thank his home state and the national resources industry for helping deliver a budget surplus.
According to Dr Chalmers, the budget balanced immediate responsibilities to help people and “generational obligations” to the future economy.
“On each of these fronts, the resources sector has been a force for good and I’m here to acknowledge that and convey my appreciation for that,” he says.
As a contributor to national prosperity, the sector accounts for two-thirds of exports, bringing in about $460 billion a year.
It has also been a critical source of productivity growth in the economy, pioneering innovations such as self-driving trucks and the smart, effective use of data, he says.
The budget papers show the bean-counters in Canberra still expect mining export volumes to grow.
Dr Chalmers said the main reason for the recovery in revenues in recent times, responsible for about $4 in every $10 in upward revisions, has been record employment of more than 14 million people.
“But another two in every 10 of those dollars is because of the good prices that we get for the exports you sell to the world,” he said.
Dr Chalmers said mining would underpin efforts to make the next era even more prosperous than the last, as Australia takes advantage of the shift to cleaner, cheaper energy.
“In other words, we have what the world needs when the world needs it,” he said.
Many of the 3500 delegates attending from 70 countries are focused on lessening the environmental and carbon footprint of the industry, even as mining expands.
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There are also concerns a new era of protectionism has begun as wealthy countries such as the United States splash cash to support onshore processing of battery minerals and local manufacturing.
In Australia, industry groups are calling for swifter approvals, flexible labour laws and less duplication of red tape across state and federal lines.
Nor will the desired shift into refining and battery manufacturing happen without government support, tax changes and more coordination, they say.
Power, water and transport infrastructure must also align with the expansion of mining.
