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Ace Press News From Cutting Room Floor: Published: Jun:30: 2023:
#AceNewsDesk - At a showcase of its strength this week, the mining industry has sent a clear message it's here to stay, as divisions on how the sector will progress towards net zero were highlighted, and a battle on higher taxes came to a head.
BHP chief executive Mike Henry told the World Mining Congress "we will not be investing any further growth dollars in Queensland under the current conditions".(Supplied: BHP)none
The 26th World Mining Congress saw more than 3,000 delegates from 70 countries descend on Brisbane for four days this week, the first time Australia has hosted the event.
Topics covered included NASA's plan to mine on the moon, the use of artificial intelligence (AI) and autonomous vehicles, and the most mined mineral on Earth, sand.
But it was arguably mining mega-power BHP who stole the show, with chief executive Mike Henry slamming the Queensland government for hiking coal royalties.
"In this case, both the outcome and the process have meant that we (BHP) have opportunities to invest for better returns and lower risk elsewhere around the world, as well as here in Australian states like Western Australia and South Australia," he said in a speech.
"We will not be investing any further growth dollars in Queensland under the current conditions."
It was a fierce rebuke to Treasurer Cameron Dick who said, when delivering the state budget in June, the government's fight with the mining lobby had "delivered a rich reward for Queenslanders".Queensland Treasurer Cameron Dick handed down the budget last month.(ABC News: Lucas Hill)none
Mr Henry's speech came just an hour after Premier Annastacia Palaszczuk announced, on the same stage, the government's $245 million Critical Mineral Strategy.
"I want Queensland to be a global leader, supplier and manufacturer of critical minerals and this strategy will help us achieve that," Ms Palaszczuk said.
Mining 'never more secure' in Australia
Arguably the central theme over the four days was decarbonisation, with businesses visibly excited to show off their clean, green efforts.
In opening the event, the former chief executive of mining powerhouse Anglo America, Mark Cutifani, argued the industry needed to do more to demonstrate its emission reduction work and global value.
"For an industry that supports 45 per cent of global economic activity on the planet, we are notoriously bad communicators," he said.
"If we want a different outcome in terms of regulation and policy framework, we need to get off our bums and educate and promote the facts around how the world works and what we need to do to create a sustainable world."
For any attendees worried about mining's place in the new green world order, Federal Treasurer Jim Chalmers' speech would have set minds at ease.Jim Chalmers said mining will continue to have a place in the Australian economy.(ABC News: Lucas Hill)none
"Let me affirm our view that mining's value has never been so certain, its place in our country never more secure," he said.
"The role of critical minerals in driving us towards net zero is a generational, defining opportunity for our country, for our state, and for your sector.
"[It's] one we cannot afford to miss."
A clash on carbon
Federal Resources Minister Madeleine King was one of the first speakers at the congress, stating that a zero-emission future wasn't possible without the mining industry.
"More mining is required to meet this urgent demand for clean energy technologies," she said.
"We know the road to net zero runs through Australia's resources sector."
She also issued a strong endorsement of the controversial carbon capture and storage (CCS) projects.
The technology involves capturing and storing greenhouse gas emissions, where it was produced, and trapping them underground.Madeleine King encouraged carbon capture and storage in the mining industry.(ABC News)none
"One of the biggest opportunities for emissions reduction in the energy sector is carbon capture and storage," Ms King said.
"While there have been challenges and under-performance with some of these projects, the IEA and other global organisations are clear we will need more permanent carbon storage projects, not less."
Does carbon capture and storage work to reduce mining emissions?
A report released in September by The Institute for Energy Economics and Financial Analysis found the majority of global CCS projects underperformed.
"Eighty to 90 per cent of all emissions from gas come when you burn it — not when you produce it", co-author Bruce Robertson said.
"CCS will do absolutely nothing for those emissions."
In an interview with ABC News Breakfast in 2021, then-shadow minister for climate change and energy Chris Bowen said: "I think the government puts too much store in it (CCS), it's not the answer to all our problems".
A spokesperson for Mr Bowen told the ABC the government was committed to examining opportunities for CCS.
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