Mr LITTLEPROUD (Maranoa—Leader of the Nationals) (12:29): Firstly, I congratulate the minister and acknowledge her strong personal commitment to the resource sector. Australia may have ridden on the sheep's back, but it was the pursuit of minerals that accelerated our development as a modern nation. It is the strength of our resource sector that continues to underpin our economic growth in the 21st century. The resources sector directly employs over 270,000 Australians and indirectly employs over 700,000 more. It is a sector that paid over $37.2 billion in wages and salaries last year straight into Australian households. It is set to deliver $459 billion in export earnings for the 2022-23 year, strengthening our budget and delivering funding for roads, schools and hospitals across the country. It is a sector that makes up over 13 per cent of our gross domestic product and paid over 40 per cent of the $68.6 billion in company tax and paid $16.7 in royalties to states and territories in Australia in 2020-21. It is a sector which underpins our COVID-19 recovery and a sector that government acknowledges is propping up the budget bottom line. It is a sector that was strongly supported by the coalition, and it has greatly benefited all Australians. It has the potential to remain an exciting and prosperous industry for Australia. Australia is blessed with bountiful resource deposits, from coal and iron ore to gas, oil and vast pockets of critical minerals and rare earths. Resources are found in our everyday lives, yet many don't realise the vast applications of what we extract from the ground. Critical minerals are found in our phones, satellites, cars, banknotes and medicine. They play a crucial role in defence technology and are even found in fertilisers that help feed the nation. Coal, gas and other traditional energy commodities continue to underpin our electricity grid, providing secure, reliable, affordable energy for households and businesses across the country. Coal and gas play a critical part in manufacturing. Coal is crucial for the production of iron ore, and gas is a necessary element in much of our manufacturing. Radioactive resources like uranium and thorium are important to much of our nuclear medicine—in research and development involving cancer and in other medicines. On a human level, the resource sector invests heavily in regional Australia. Outside of the cities, it is resource companies who invest in regional towns by providing secure, well-paying jobs for those who live in the regions. The resources industry allows Australians to stay with their families in the regions and still earn a living that is comparable, if not better, than their urban counterparts. It is one of the highest paying sectors in Australia. In fact, mining jobs are among the best paid jobs in the nation. Median weekly earnings for mining workers were $2,349 in 2021, more than double the median for all industries. More than that, the resource companies invest in the towns themselves, sponsoring the local footie club, restoring the local CWA hall, building a town pool, supporting the campdraft and sealing and upgrading roads and infrastructure. They deliver real results for regional communities and invest into these places with a passion for their people. Whilst traditional resources have formed the basis of our growth for the past few decades, we are on the steps of a new mining revolution. Critical minerals are set to be the resources of the future. The Minerals Council of Australia predicts that by 2030 iron ore demand is expected to grow by eight per cent, metallurgical coal demand is expected to grow by 24 per cent, seaborne thermal coal demand is expected to grow by 23.5 per cent, aluminium demand is expected to grow by 45½ per cent, zinc demand is expected to grow by 12 per cent, nickel demand is expected to grow by 67 per cent and lithium demand is expected to grow by 368 per cent. Further to this, by 2040 LNG demand will have doubled and by 2050 copper demand will have doubled. This projected demand should excite the resource sector, and excite Australians, about the future benefits that the Australian resource sector can provide. This is not guaranteed, and Australia must continue to support a stable investment environment to secure future development in our country. Australia's high-quality coal and gas will also play an important role not only domestically but in other countries around the world. The coalition is committed to supporting our coal and gas industries supplying Australia's high quality resources for export markets to help lift millions out of poverty as well as providing cheap, reliable electricity to industries and families across Australia. Australian coal is one of the highest quality coals in the world, and we produce it more efficiently than most, meaning more energy and less emissions. That puts our local coal and gas sectors, and the thousands of Australians who work in them, in prime position to benefit from the increased global demand for energy resources. As China and India increase their demand for coal, both for steel creation and energy generation, and Japan and Korea demand more gas to fuel their transition, it is in everyone's interest that our high-quality resources are the first choice for our partners around the world. Were we to shut down our coal and gas production or refuse to step up to meet demand around the world, those countries that need our resources will just turn to lower quality, higher-emitting resources from other countries. Moral grandstanding about Australia's coal and gas resources may make some in the chamber feel better—like the Australian Greens, the teal greens and the independent greens—but shutting down our industries will have the opposite effect to what they may have hoped for. If Australia withdraws from exporting our high-quality coal and gas, global emissions will rise. Our energy exports provide a benefit beyond Australia. They support new technologies and new infrastructure across our region, bringing hundreds of millions of people out of energy poverty and into the growing global middle class. Nearly everything that allows us to enjoy a First World lifestyle—from high-tech manufacturing to the food on your plates; from energy generation to the steel frames that hold up your homes—would not exist without mining, yet those who attack our resource sectors cannot tell us from where they would source these vital inputs that support our way of life. Coal and gas not only are used for energy but are critical in the production of a number of vital products in modern society, like steel, concrete and fertilisers. Gas plays a pivotal role in the production of fertilisers like ammonia or urea, which in turn sustain the food security of billions of people around the world. Coal is vital in many non-energy industries, including steel and cement production as well as coal-to-chemical processes, rare earth extraction and carbon fibre production, to name just a few. According to the World Steel Association, 780 kilograms of metallurgical coal is required to make a single tonne of steel. Over 200 kilograms of coal is required to produce a tonne of cement. Whilst many in this chamber tout the end of coal, it would appear that they've forgotten that wind turbines require hundreds of tonnes of steel in the production of every turbine, as well as cement for the base. As has aptly been put, if it's not made of steel, it's made in a factory made of steel. Additionally, thousands of different products have coal or coal based by-products as components, such as soap, aspirin, solvents, dyes, plastics and fibres including rayon and nylon. This shows how disconnected from reality some in this chamber are. The coalition have a strong record on delivering for the resource sector and we're proud to stand by our policies, developed by former resource ministers Pitt, Canavan and Frydenberg. The coalition developed our gas fired recovery during COVID, to capitalise on the growth and importance of this fuel and energy source. In 2021 the Australian Competition and Consumer Commission acknowledged that our gas fired recovery was bringing more supply to the domestic market, increasing competition and lowering prices. Our strategic basin plan program was bringing on new supply by unlocking new gas potential and accelerating development in key basins: the Beetaloo Strategic Basin Plan in the Northern Territory, with an investment of $224 million; the North Bowen and Galilee Basin Plan in Queensland, with over $20 million invested; and the Cooper-Adavale basin plan across South Australia and Queensland, with more than $60 million invested. Unfortunately, half of this funding was cut. The Beetaloo sub-basin is one of the largest undeveloped onshore gas resources in the world. Development of this resource has the potential to create 6,000 jobs by 2040, transform the Northern Territory economy and supply enough shale gas to supply Australia's electricity markets for the next 200 years. This is a project of national significance and should continue to be supported across all governments. It begs the question: why did the government make concessions to the Greens to hamper the development of the Beetaloo, when the Northern Territory Labor government explicitly supports its development? Who's being told what? We don't know because we haven't even seen the detail of this Greens amendment. Bringing on more gas supply and investing in pipelines, storage and infrastructure has remained a key issue raised by the ACCC in regard to securing our future domestic demand, and we developed a proven, costed plan to address this. The latest report by the Australian Energy Market Operator, AEMO, confirms fears that we are being driven headlong towards a gas and energy crisis. Southern states will be at risk of shortfalls from winter this year. By 2027 there won't be enough domestic gas to cover the eastern market, meaning blackouts and gas rationing across the east coast. AEMO has pointedly noted that price interventions in the mandatory code of conduct are key drivers in creating market uncertainty, which is leading to reduced investment in supply. That's real jobs in regional Australia that will go. Further to this, AEMO and the ACCC are clear in calling for further investment into supply, storage and infrastructure to avert the looming shortfalls and secure energy supplies. The coalition committed $58.6 million to the National Gas Infrastructure Plan for a range of measures to advance gas fired recovery. Unfortunately, this funding was also cut. Australia has an abundance of many critical minerals and rare earths that are increasingly important in new technology. The world needs critical minerals, including the rich deposits we have, such as lithium, graphite, cobalt and nickel. We're the largest producer and exporter of lithium, a critical battery component. We are positioned to be a world leader in the exploration, extraction, production and processing of critical minerals. The coalition invested $2 billion in the establishment of a critical minerals facility to provide finance to eligible critical minerals projects where private sector finance was unavailable or inadequate. One of the loans was a $1.25 billion loan to build Australia's first integrated rare earths refinery. This was one of the largest investments for critical minerals in the country, and we're proud that the coalition government helped to deliver it. We invested in the $200 million Critical Minerals Accelerator Initiative to develop new sources of critical minerals by supporting early and mid-stage projects and to contribute to robust global supply chains, build sovereign capability in Australia and create high-paying regional jobs. It was a shame to see this funding slashed by over $100 million in the last budget, despite claims of support for critical minerals in the sector. Our Modern Manufacturing Initiative also committed $250 million to four critical minerals projects—further investment to our accelerator initiative. We funded the $50 million virtual National Critical Minerals Research and Development Centre, a commitment that government has continued, albeit with less than yearly funding. The coalition recognised the importance of investing in the future of the resources sector and we funded exploration to uncover and develop new resources, promoting new opportunities to develop industries in hydrogen and critical minerals. We extended the Junior Minerals Exploration Incentive, with an additional $100 million in support, and created the $225 million Exploring for the Future program. Both of these were crucial to finding new resources capable of generating hundreds of jobs and billions for Australia's economy. We committed $20.1 million to the global resources strategy to identify new markets for our resource exports, including critical minerals. This included a series of commodity reports, starting with LNG, identifying potential future export markets and highlighting investment opportunities in Australia. Despite the strength of the resources sector and the bright and exciting future it could hold, the continued success of the industry faces risk. Poor legislation, coupled with interventionist policies, is creating an uncertain investment environment. In a world where capital can be fluid and investment decisions are global, a stable and attractive regulatory environment is vital to keeping a future pipeline of development. Direct market intervention is driving Australia's resource investment landscape towards a dangerous setting whereby companies and international investors are faced with increasingly difficult decisions regarding their future investments in Australia. Further to this, despite Australia's stringent environmental approval processes and regulatory checks and balances, the funding of the Environmental Defenders Office, the creation of a Commonwealth environmental protection agency and an achievable consultation requirement and review process are causing more harm to our investment environment. With newly legislated emissions targets, the risk of environmental activists and bad-faith actors purposely tying up projects in the courts on vexatious grounds until they fall over will increase, as we've seen in other jurisdictions around the world. At a time when the pain of skills shortages is being felt across all industries, irresponsible industrial relations legislation risks the benefits that Australian workers reap from this sector, despite the high wages and good working conditions they receive in the resources industry, and with worsening economic forecasts, the risk of tax grabs to plug holes in budgets is ever present. In Queensland the state government made a sudden tax grab last year by introducing a top royalty rate for coal of 40 per cent, making it the highest taxing mining jurisdiction in the world. As Japanese ambassador Shingo Yamagami pointed out, this will have widespread effects on Japanese investment beyond the coal industry, not only with minerals but with hydrogen infrastructure and a variety of cutting-edge technologies. In one fell swoop the Queensland government put doubt in the minds of investors, including some of our closest international allies. At the end of day, when they have raided the piggy bank and there is no new investment, a 40 per cent royalty rate on nothing will still be nothing. Australia should not make the mistake of assuming that, just because the sector has always been there to support us, they'll always be there, no matter the burdens that are heaped upon them. I wish to finish my remarks by echoing what Senator McDonald told industry during Minerals Week last year. Your work matters—every single person in Australia. You are not a bad industry; you are a vital industry. The coalition will continue to be strong public supporters of the sector and will be the voice of common sense in the mining and resource sphere. We know that, without mining, people in the big cities don't have a First World lifestyle. We know that mining makes us prosperous, and prosperity gives us the ability to be first-class environmental managers. The government plays a key role in sending signals to business, society, schools and the media, both positive and negative, about the importance of mining in all our lives. It's disappointing to see, the very week we stand here talking about the importance of the mining sector, a new carbon tax that'll hurt the sector is being rammed through the Senate with the help of the Greens. What signal does that really send? The coalition will always back the resource sector, they jobs they create, the wealth they generate, the building blocks for a modern society that they provide and the communities they strengthen, because mining is part of the national fabric and it's crucial to Australia's future. The coalition understands this and will continue to promote it.