“Whereas if you look at our efforts, I think the US and Australia share a view that vaccines should be aggressively distributed to the places that are most in need.”
‘’Any change … would be in full consultation with the Australian government’
WA’s booming iron ore industry contributed nearly one-fifth of total company tax paid across the whole of Australia last year — about $15 billion — keeping the nation on its feet in the face of a devastating pandemic.
Iron ore is Australia’s single largest commodity export and is forecast to earn Australia around A$700 billion over the six years to 2025-26. Iron ore supports 45,600 direct Australian jobs and is a major employer of Indigenous Australians.
“These changes will transform the NAIF to make it a more proactive investor in projects that will generate economic activity and job creation,”
“Putting Team Australia on the global critical minerals map will help attract the investment and technology necessary to meet the growing needs of global supply chains for critical and other minerals for high value products like batteries, solar cells and other innovative and early-stage technologies,” the MCA stated in March.
Santos has already devised a giant ‘‘carbon sink’’ scheme where it can offer energy operators the ability to strip out and bury carbon from their gas supplies at its Moomba hub in South Australia as the industry seeks to accelerate efforts to lower pollution from their fossil fuel operations.
“To underwrite it, you’re going to talk about billions because you need the comfort of that behind you. If we do this right, there’s no reason we can’t expand it into bushfire areas and flood areas.”
Western Australia has $108 billion worth of infrastructure projects in the pipeline — more than any other Australian State or Territory — as sky-high commodity prices fuel confidence and business investment.
“We are pleased to support such a significant domestic manufacturing project that will use Australian gas to produce urea fertiliser, essential for our Australian and international agricultural markets,” she said.
“More affordable insurance means peace-of-mind for hundreds of thousands of Australians across Northern Australia, knowing that their economic livelihoods are protected,” the Treasurer said.
“The Morrison Government is committed to building a clean and competitive hydrogen industry in Australia, and these projects are a huge step towards Australia cementing its place as a world leader,” Minister Taylor said.
The price of iron ore has hit a new record high of $US193.85 a tonne and is tipped to break through the $US200 barrier in a boom that will improve the federal budget bottom line by an estimated $20bn.