Already a subscriber?Former Woodside Energy chief executive Peter Coleman is now chairman of the world’s third-largest lithium producer, Arcadium Lithium. But there’s no way he’s about to build any lithium refining or processing operations in Australia.
So although Coleman believes the Albanese government’s promise of 10 per cent production tax credits for all 31 critical minerals is sensible, he sees it as only a modest first step in Australia’s ambitions to build a critical minerals processing and refining industry. “It will be the energy, the water, the rail, the ports that will make a difference in bringing costs down and that’s where I think the industry is really struggling,” Constable told The Australian Financial Review Mining Summit in Perth.
Laura Taylor-Kale, US Assistant Secretary of Defence for Industrial Base Policy, at the Mining Summit on Wednesday.The US has designated Australia as a “domestic source” country, along with Canada and the UK, and the US Assistant Secretary of Defence for Industrial Base Policy, Laura Taylor-Kale, used the Summit to emphasise the potential for “friend-shoring” and partnerships.
The Albanese government is also tightening restrictions on the level of Chinese investment permitted by the Foreign Investment Review Board. Some industry participants believe that Treasury’s “design protocols” for production tax credit eligibility – to take effect from 2027 – will match the US maximum of 25 per cent Chinese ownership or processing in China.AMEC will be among those warning against this interpretation during consultations in Canberra.
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Source: FinancialReview - 🏆 2. / 90 Read more »
Source: FinancialReview - 🏆 2. / 90 Read more »