MCA analysis shows that without carry over units, the financial cost to Australia will be at least AUS$12.8 billion.
CSIRO and Geoscience Australia’s recent assessment of the Carmichael project clears the way for the Queensland Government to finalise the remaining approvals.
As a major resources and energy exporter and a large country with a relatively small population, Australia needs a climate change policy that recognises the high relative emissions intensity of the country’s economy, say MCA.
A diverse energy mix is the key to affordability, reliability and lower emissions, says the Minerals Council of Australia.
Australia’s short-list of projects for detailed consideration through the Underwriting New Generation Investment programme is a welcome start in ensuring the country’s electricity system is capable of delivering affordable power with lower emissions.
Strong prices for coal and iron ore will support a faster return to the government’s budget surplus.
Trade data from the Australian Bureau of Statistics confirmed that coal became Australia’s number one export earner in 2018.
The Bill undermines rigorous and thorough approval processes at both state and Commonwealth level with which all major mining projects must comply.
Australia’s Labor Party is set to add another layer of green bureaucracy, which will cost jobs, discourage investment and make it easier for activists to disrupt and delay projects in the minerals sector.
The Queensland and Australian economies will benefit from thousands of new regional jobs and long-term investment in the mine and rail infrastructure.