Asian markets, collaboration key to industry future: Resources 2030 Taskforce

The Australian Government’s Resources 2030 Taskforce has released 29 recommendations to enhance the performance and competitiveness of Australia’s resources sector, the first since the late 1990s.

Established by the Australian Resources Minister Matt Canavan, the 2030 Taskforce believes that Australia can capture even more investment, create more jobs and improve environmental management and community engagement.

The resources sector generates $226 billion worth of exports a year – more than half of Australia’s estimated total exports in 2017–18.

The recommendations support Australia’s ambition to meet growing global demand for resources in 2030. Growth will be centred in the four of the five largest economies then, including China, India, Japan and Indonesia.

Further, new markets for Australia’s resources such as Singapore, South Korea and Vietnam will be generated, thereby increasing competition.

The Taskforce highlighted the need for better collaboration between industries as well as with governments to tackle common challenges, while responding to communities’ concerns.

The report states, “Australia must have economic, regulatory and policy settings that can attract such investment.

“The sector also needs to have access to, and the ability to build, a skilled and diverse workforce.”

The broad reform agenda are to:

  1. Promote the Australian resources sector as the best place to invest – by emphasising on the sector’s capabilities and strengths to both domestic and global markets
  2. Guide and drive innovation – by ensuring Australia has a sector-wide innovation system and institutions that are worthy of its position at the global forefront
  3. Build stronger communities and regions – by making stronger collaborative relationships with communities
  4. Provide a high-quality resources base for future generations – by discovering and developing new resources regions
  5. Build on the future workforce – by attracting and supporting a skilled workforce through continuous upskilling of employees, provision of education and training to indigenous communities as well as development of a more coordinated national curriculum for earth sciences and resources sector qualifications
  6. Improve the sector’s environmental performance – by developing more efficient and effective environmental regulations.

The report receives national-wide backing, including from the Australian Resources & Energy Group (AMMA), South Australian Chamber of Mines & Energy (SACOME), Minerals Council of Australia (MCA) and NSW Minerals Council.

AMMA director industry services Tara Diamond said, “Not since the National Resources Statement of the late 1990s has the Australian Government released such a strong vision for the type of collaboration, regulatory reform and investment required to support the future prosperity of Australia’s resources and energy industry.

“AMMA congratulates Minister for Resources Matthew Canavan and the Taskforce team for achieving their goal of building a long-term platform for the ongoing development of Australian resources that could, and should, attract bipartisan support in the Australian Parliament.”

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