Resources Minister Madeleine King has vowed to back new gas and coal to combat the energy crisis and support economic transition in the years ahead.
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The Albanese government's position on new coal and gas development is clear, Ms King told a mining summit on Thursday as police ringed the harbourside venue.
"If the environmental and economic credentials stack up, and projects receive all the necessary approvals, the government will support new developments," she said.
She said traditional players, including coal and gas, have a significant role to play during the energy transition as a "natural ally" of renewable sources.
Speaking at the International Mining and Resources Conference in Sydney, Ms King failed to offer energy inflation relief to an industry juggling fuel cost pressures in mining, processing, refining and shipping.
She rejected calls for a gas price cap, even as Western Australia benefits from lower costs under its gas reservation policy while industry and manufacturing in the eastern states miss out.
"I don't want to support ad hoc and knee-jerk policy proposals that don't really address what is a really complex problem," she told reporters.
She said the gas industry was aware its pricing was "on the nose" and it was up to providers to justify the levels of tariffs they offered customers.
Ms King also used her keynote speech to urge mining bosses to get behind the Voice to Parliament for First Nations peoples.
"It's an issue that's important to me personally and also to the government," she said.
More than 60 per cent of resources projects are on land covered by a claim or determination affording rights and interests to traditional owners.
Ms King said First Nations communities, some in the most remote parts of Australia, were important partners for mining and urged the sector to recruit, train and buy from First Nations suppliers.
"I urge the resources sector to play a positive and energetic role in ensuring the voice campaign is a success," she said.
Australia's abundance of the critical minerals needed for clean energy technologies is a drawcard for the summit's more than 7500 delegates, as is the glittering gala dinner later on Thursday.
But the police presence is heavy at the Darling Harbour venue, with climate protesters crying foul over Australia's continued expansion of gas and coal fields.
A "blockade" is planned for Friday, the final day of Australia's biggest mining expo since the pandemic.
Ms King reiterated the road to net zero greenhouse gas emissions is through mining.
"We have to extract more minerals, not less, to get there," she said.
Federal budget papers last week forecast Australian mining investment to grow by four per cent in 2022/23 and 5.5 per cent in 2023/24 to hit the highest levels in seven years.
But that's short of the expansion seen in the last boom, as the threat of global recession looms and interest rates rise.
Australian Associated Press
