• 3 days China Slaps Alibaba With Record $2.75B Antitrust Fine
  • 4 days The Pandemic Has Culled The Middle Class
  • 5 days Legacy Automakers See Massive Spike In Sales
  • 6 days Tesla's Biggest Competitor Is Going Cobalt-Free
  • 7 days Stocks That Could Benefit From Biden’s $2.5 Trillion Infrastructure Plan
  • 9 days The Mafia Has Expanded Its Influencer Under COVID-19
  • 10 days How Fintech Will Get Skeptics Into Crypto
  • 11 days Monday Markets Rise On Stellar Jobs Report
  • 14 days Not Even Bribery Allegations Can Crush Cannabis Boom
  • 18 days Canada May Become Leader In Booming Battery Market
  • 19 days Nearly 42% Of All Amazon Reviews Are Fake
  • 20 days Kidnapping Is Big Business In Nigeria
  • 21 days COVID Fraud Amounts To Nearly $570M
  • 23 days Art Is Now An Algorithm
  • 25 days TikTok Threatens America, Tesla Threatens China
  • 25 days Small-Cap Energy Sectors With Big Upside
  • 28 days Coinbase Valued At $68 Billion Ahead Of IPO
  • 31 days 3 Stocks To Watch Amid AstraZeneca Covid Vaccine Snafu
  • 32 days Get Ready For First Tax Hike Since 1993
  • 35 days Tech Majors Bet Big On Clean Energy
The Countries With The Largest Diamond Reserves

The Countries With The Largest Diamond Reserves

Diamonds reserves in Russia, Congo…

Lunar Mining May Commence As Early As 2025

Lunar Mining May Commence As Early As 2025

Plans to start mining the Moon as…

Mining.com

Mining.com

Mining.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

Contact Author

  1. Home
  2. Commodities
  3. Other

Australia Considers $100 Million Investment To Kickstart Mining Industry

Australia Mining

The Minerals Council of Australia is calling on the federal government to adopt a series of measures that, in the group’s view, would guarantee the recovery of the mining sector once the covid-19 pandemic comes to an end.

In a document titled Immediate Reform Priorities to Accelerate Economic Recovery, the MCA proposes targeted reforms that include lower taxes, faster project approvals, modern skills and flexible workplaces.

“Our world-leading minerals companies are hampered by regulatory duplication and overlap, while projects take too long to be approved – denying regional communities jobs and investment,” the Council’s report reads. “Expediting environmental assessments and approvals, reforming greenfields agreements and expanding incentives for exploration will also help realise and refresh the potential pipeline of new and expanding mining projects.”

According to the MCA,  Australia’s company tax rate of 30% is too high, not internationally competitive and could put at risk mining investment.

“A potential mining investment pipeline of up to $100 billion of coal, iron ore, base metal, critical minerals and gold projects as well as tens of billions of spending to sustain the Australian mining industry cannot be taken for granted,” the document states. “With other mining nations significantly hampered by the covid-19 pandemic while Australian minerals companies continued to operate, Australia’s competitors will waste no time in attempting to increase their share of the recovery.”

The Council’s paper highlights the fact that growing economies of highly populated nations such as India and Southeast Asia will recover and continue to grow with their expanding housing, infrastructure and manufacturing needs supporting higher demand for industrial metals such as steel, copper and aluminium. In their view, those are markets that the country’s mining sector could be targeting. 

By Mining.com

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment