Investing in Australia's mining and energy future
13 March 2020
Joint media release with the Minister for Resources, Northern Australia and Water, the Hon Keith Pitt MP
The Morrison Government is investing in industry-led research to maintain Australia’s place as a world leader in mining and energy resources.
The Government will provide $40 million for the establishment of the Future Energy Exports (FEnEx) CRC and $29.5 million for the CRC for Transformations in Mining Economies (CRC TiME).
Minister for Industry, Science and Technology Karen Andrews said the FEnEx CRC would help Australia maintain its position as a leading global energy exporter.
“The world’s demand for energy is insatiable and Australia is already dominant, with current energy exports worth nearly $90 billion,” Minister Andrews said.
“The FEnEx CRC will further strengthen our export industry by developing technologies to improve the efficiency of existing LNG processes and the development of new exports like hydrogen.
“Importantly, the FEnEx CRC will tap into international interest in lowering the cost of energy production, while at the same time reducing the carbon footprint of the LNG industry.
“This CRC’s research program promises to place Australia’s LNG sector well ahead of the curve by anticipating future changes in our energy mix, improving the competitiveness, productivity and sustainability of Australian industries.”
Minister Andrews said the CRC TiME would help keep jobs in regional communities, building on the strength of the resources and energy sectors.
“Australia’s world-class mining expertise is undeniable, but being a global resources powerhouse means ensuring a sustainable future for our mining towns in rural and regional Australia,” Minister Andrews said.
The Minister for Resources, Northern Australia and Water Keith Pitt added, “the resources and energy sector is building new infrastructure across regional Australia and developing highly skilled and highly committed local workforces.”
“This new CRC will provide the tools for towns and regions to navigate opportunities to create new jobs and development that keep communities strong.
“The Government and the resources industry recognise more needs to be done to diversify the economy of some local communities which are highly dependent on individual mining projects. The work of CRC TiME will help mining communities broaden their local economies so they can continue to grow and stay strong.”
The FEnEx CRC has generated a further $122 million in cash and in-kind contributions from industry and researchers.
The CRC TiME has generated a further $105 million in cash and in-kind contributions from industry and researchers.
Since 2013, the Government has committed $1.1 billion to support the establishment of 30 CRCs, with industry and research partners contributing $3.4 billion in cash and in-kind contributions.
The CRC Program provides competitive and merit-based grant funding to support industry-led collaborative research partnerships. The grant is complemented by cash and in-kind support from industry and research partners.
Minister Andrews' office 02 6277 7070
Minister Pitt's office 02 6277 7180