• 2 days Oil Demand Falters On New Wave Of Lockdowns
  • 3 days Signal, Telegram Gain Ground As Social Censorship Breaks Headlines
  • 4 days Investors Should Be Worried About Tech Stocks
  • 6 days Battle For Market Share Intensifies In COVID Streaming War
  • 8 days Censorship Is Now Private, And That’s Scary
  • 10 days Markets Hit ‘Ignore’ Over Capitol Coup
  • 12 days Tesla’s China Strategy Is Yet Another ReasonTo Double Down
  • 13 days NYSE Reverses China Company Delisting Plans … For Now
  • 15 days The Dollar Could Remain Weak For Years To Come
  • 18 days The Simple Secret To Tesla-Like Gains
  • 19 days US-Listed China Stocks Have 3 Years To Become Transparent
  • 21 days $30,000 Is The New $20,000 For Bitcoin
  • 21 days Gold Slips Following Stimulus Announcement
  • 22 days Illegal Streaming Targeted In The 5,000 Page COVID-19 Stimulus Bill
  • 23 days Big Investors Are Dumping Gold For Bitcoin
  • 24 days The Most Exciting And Strange Energy Tech Of The Year
  • 25 days Morgan Stanley Sees Apple As Major Threat To Tesla’s Dominance
  • 27 days U.S. Lawmakers Pass $2.3 Trillion Relief Package
  • 28 days The Super-Rich Are Investing In “Pandemic Passports"
  • 29 days 5 Promising Stocks in 5 Different Sectors to Start the New Year
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