The prime minister emphasized that investing significantly in geoscience will propel Australia towards achieving net zero emissions. In line with this, the federal government is set to allocate $566.1 million over a decade to map the country’s new mineral resources. This initiative, led by Geoscience Australia, supports the Future Made in Australia policy objectives by utilizing resources to drive the nation’s future and ensure job stability for current and future generations.
With over 80 percent of Australia’s geological resources remaining untapped, including various minerals, groundwater, and energy resources, this investment aims to create a comprehensive mapping of the country’s groundwater systems. It will also assist Resourcing Australia’s Prosperity (RAP) in exploring resource potential and mineral development for the next 35 years, including mapping offshore areas and potential sites for clean hydrogen projects.
Minister for Resources, Madeleine King, highlighted the role of Australia’s resources sector in paving the way for net zero emissions. Geoscience Australia’s precompetitive data program has led to significant discoveries, such as critical mineral and rare earth deposits essential for clean energy technologies. The program has spurred exploration activity, with 65 companies exploring 569 tenements covering 290,000 square kilometers, resulting in the discovery of six world-class mineral deposits in Western Australia crucial for supporting net-zero goals.
The investment in geoscience is expected to bolster Australia’s path to net zero, with existing public precompetitive geoscience already contributing significantly to the economy and job creation. Prime Minister Anthony Albanese reiterated the government’s commitment to a secure and sustainable future for all Australians through investments in geoscience. This initiative aims to enhance public confidence in infrastructure planning and environmental assessments while supporting the agricultural sector and creating a sustainable pipeline of projects.
In addition to the mapping investment, the government is also allocating $400 million to the critical minerals sector and $1 billion for solar panel manufacturing. The Minerals Council of Australia CEO, Tania Constable, praised the government’s investment, noting that it will spur private investment planning and uncover new opportunities for minerals development, particularly in remote and underexplored areas. These initiatives are expected to not only advance Australia’s journey towards net zero emissions but also attract investment, create jobs, and secure essential resources for the future.
Source link
