Australia’s Federal Treasurer, Jim Chalmers, has emphasized the need for a 450 percent increase in mineral production to achieve net-zero emissions by 2050. This statement was made in conjunction with the release of a new strategy by Resources Minister Madeleine King, aimed at positioning Australia as a global producer of critical minerals. Chalmers expressed Australia’s commitment to contribute to global climate goals but acknowledged the importance of a thriving resources sector to support the transition to renewable energy. The CEO of Newcrest Mining, Sherry Duhe, also highlighted the significant challenges and costs associated with producing electric vehicles. Mining magnate Gina Rinehart has previously made similar statements regarding the reliance on minerals for renewable energy technologies. While Australia is a major producer of lithium, cobalt, and rare earths, BHP CEO Mike Henry warned that unpredictable government policies could deter investment in the critical mineral mining sector. In a separate development, Federal Environment Minister Tanya Plibersek granted approval for a coal mine despite criticism from environmental groups. Plibersek emphasized the government’s commitment to evaluating projects based on national environment laws and evidence. Chalmers outlined three key factors for federal Labor’s mining sector plan, including building supply chain resilience, making strategic investments in critical minerals, and linking minerals to the energy transition. The strategy aims to diversify the supply chain, reduce reliance on China, and promote onshore mineral processing. The government plans to invest $500 million in critical mineral projects and allocate additional funds for value-added resources and renewable technologies. The Queensland Resources Council welcomed this strategy, highlighting the state’s abundant mineral reserves. Rio Tinto CEO Sinead Kaufman emphasized the importance of mining to Australia’s prosperity and the need for partnerships with communities, stakeholders, and governments for successful operations.