Green metals will play a vital role in the Albanese Government's vision of A Future Made in Australia, creating jobs and lowering emissions.
Today the Government is giving workers, industry and communities in our world-leading metals industry a say in how to best leverage Australia's advantages to capture the opportunities from the net zero transformation.
The A Future Made in Australia: Unlocking Australia's Green Iron, Steel, Alumina and Aluminium Opportunity consultation paper released today outlines barriers and opportunities to advancing Australia's green metals production.
By some estimates, green metals could be worth as much as $122 billion to our economy by 2040 while reducing emissions by as much as 250mT of carbon.
Today we are asking the sector, from the foundry floor to executive offices, for its views on how we can lock benefits in for future generations, building on the proud tradition of our metals industry.
As the world continues to transition to net zero, demand for solar panels, electric cars, batteries and wind turbines will continue to grow, with an increasing need for the metals they are made of to be produced sustainably.
Australia has an opportunity to leverage our abundant renewable energy resources to become a world leading green metals producer.
The Budget has already backed green metals as an opportunity under a Future Made in Australia, including:
- Providing an estimated $8 billion over the decade for renewable hydrogen production incentives, to scale and reduce the early costs of this critical input to many green metals processes.
- The $1.7 billion Future Made in Australia Innovation Fund that will accelerate new and innovative technologies and facilities linked to priority sectors including green metals.
- The Guarantee of Origin Scheme, which has been piloted to certify Green Hydrogen, will also be expanded to green metals. This will certify the emissions intensity of green metals, helping us establish stronger markets for green manufacturing.
