Racing to a future made in Australia

Joint media release with Prime Minister Anthony Albanese.

Prime Minister Anthony Albanese and Minister for Industry and Science Ed Husic toured ABC Refinery in Marrickville today and viewed the iconic Melbourne Cup trophy.

ABC Refinery is part of Pallion which employs more than 300 people in Marrickville, and hundreds more across Australia, processing, refining and working precious metals.

Pallion employs metallurgists, chemists, assayers, engineers, traders, jewellers and gold and silver smiths.

Pallion refine and manufacture billions of dollars of precious metals each year, including gold bars and coins, jewellery items, through to trophies including the Melbourne Cup.

The Melbourne Cup is mined, processed, refined, crafted and manufactured by highly trained goldsmiths here in Australia - not one element in this process occurs overseas.

Australia is the second largest gold producer in the world, with gold our fifth-largest export commodity, valued at $23 billion in 2021-22. Our gold production was 308 tonnes in 2021- 22, and is forecast to reach 331 tonnes in 2022-23.

An Albanese Government will rebuild our proud manufacturing industry through our Future Made in Australia policy.

As part of that policy, we want to take the raw minerals we mine and value add by using local highly trained workers, before we export to the rest of the world.

The Albanese Government will establish the $15 billion National Reconstruction Fund to provide finance to support projects that create secure well-paid jobs, drive regional development, and invest in our national sovereign capability, broadening and diversifying Australia’s economy.

Our policies will support local jobs, create training and apprenticeship opportunities in key industries and show the world the value of Australian manufacturing.


“Pallion is a great local business, right here in my electorate, that employs hundreds of local workers and delivers top quality unique products including the iconic Melbourne Cup.

“The Melbourne Cup trophy is mined, refined and manufactured right here in Australia – not one part of this process occurs overseas.

“This is the definition of Australian made and shows what we can achieve when we back Australian businesses.

“Through our ‘A Future Made in Australia’ policy, we will strengthen local manufacturing and create good, secure jobs for Australians.”


“A Future Made in Australia means investing in a future for all Australians.

“The Albanese Labor Government backs local businesses. Pallion is a prime example of self-sufficient manufacturing right here in Australia, based on our resources and our renowned know-how.

“The National Reconstruction Fund will be central to rebuilding our industrial base. It will show faith in Australian ideas, Australian manufacturing and deliver secure, well-paid jobs in the cities and the regions.”