New global resources strategy to help diversify exports

Joint media release with Member for Herbert Phillip Thompson

The Coalition Government is investing $20 million in a Global Resources Strategy which will help diversify exports and find new markets for Australia’s resources and technology.

Minister for Resources, Water and Northern Australia Keith Pitt launched the new global strategy in Townsville with Member for Herbert, Phillip Thompson. 

Minister Pitt said it will help to strengthen Australian resources exports and promote Australia as a reliable and responsible supplier to the world.

“The Strategy will also support global demand for Australian resources as the world recovers from the impacts of the COVID-19 pandemic and help Australia build resilience to trade shocks,” Minister Pitt said.

“Australia’s resources sector more than lived up to its reputation as a dependable, resilient and efficient supplier of major commodities to the world throughout the COVID-19 pandemic.

“The new Global Resources Strategy will make sure Australian resources and innovation can build on that reputation and strength, to secure new markets and long-term benefits for the wellbeing of the sector and the Australian economy.

“The Strategy will help boost investment in regional Australia by exploring new markets for our major commodities and critical minerals in the Indo-Pacific, Europe and North America.

“The Strategy supports the jobs of 262,000 people who currently work in the sector and will help create even more jobs by seeing an expansion in our export markets.

“It will also support new investment in research and commercialisation of alternative uses for some of our commodities, and provide greater international focus for our world-leading and innovative mining engineering, technology and services sector.

“The Strategy will support the Australian resources sector to remain the world’s supplier of choice for our major commodities as well as our critical minerals and new energy resources, such as hydrogen.”

The Strategy will focus on building closer relationships with key trading partners through increased engagement at both government and industry levels.

“We’re looking to explore new export opportunities in South East Asia, where the World Energy Outlook reports demand for major commodities such as thermal coal is expected to increase beyond 2020 levels until 2030,” Minister Pitt said. 

“The Strategy will also involve expert advice on opportunities for existing and emerging commodities such as hydrogen and critical minerals.”

Federal Member for Herbert Phillip Thompson said the Strategy had the potential to boost the local economy.

“We know how important the resources sector is for Townsville and the jobs that it supports for our city,” he said. 

“Anything that could help create jobs in any industry has my support and that includes finding new markets for our resources.”

Media contact:

Minister Pitt's office: 02 6277 7180