CME’s Acting Director of Policy and Advocacy, Adrienne LaBombard, recently returned from the Western Australian Government’s biggest ever trade delegation to India. The 110-strong delegation was led by Deputy Premier Roger Cook, and Culture and the Arts and International Education Minister David Templeman, and spanned four cities in four Indian states over 10 days. The recent signing of the Australia-India Economic Cooperation and Trade Agreement provided a strong foundation for the discussions.
The tour commenced in Delhi where Indian Government think-tank Niti Aayog hosted a critical minerals round table and India’s National Mining Development Corporation (NMDC) hosted a lunch where the CME member Atlas Iron Pty Ltd and Hancock Prospecting Group announced an exclusive agreement with JV partners Legacy Iron Ore (backed by major shareholder NMDC) and Hawthorn Resources, building on existing project development to explore for lithium, nickel and copper at Mt Beven in WA.
The strong interest in Australian raw materials – particularly critical minerals – continued throughout, including stops in Mumbai and Visakhapatnam where senior executives from large diversified Indian firms such as TATA Group and Aditya Birla presented to the delegation and participated in roundtables on energy and mining and the Government of Andhra Pradesh presented and hosted sector specific roundtables covering sustainable development, industrial hubs and promoted initiatives to support the ease of doing business.
In Chennai, delegates were treated to dinner at the Amir Mahal with the Amir himself, his family and children. Delegates arrived at the palace in style in a convoy of electric three-wheelers or ‘tuk tuks’ developed by M Auto –a company striving to be an innovator in electric vehicle design and smart battery development. The following day the Tamil Nadu Minerals Limited and Tamil Nadu Department of Geology and Mining provided presentations and mining and energy delegates visited the Indian Institute of Technology Madras Research Park to see where research and innovation are translated into commercial applications across 5G, battery engineering and EVs and even the 3D printing of rocket engines.
The tour culminated with the opening of WA’s second investment and trade office in Chennai, the ‘Gateway to South India’. Chennai will be a spoke office within the India-Gulf Hub of the WA International Investment and Trade Office Network, which also includes Mumbai and Dubai. WA exported $3.2 billion of goods to India in 2021, above the annual average of $2.4 billion over the past 10 years.
Contact: Adrienne LaBombard, Acting Director of Policy and Advocacy
Email: a.labombard@cmewa.com
Critical to WA’s future
Growing our participation in critical and battery minerals is a focus for CME, State, and Federal Governments alike. These minerals, such as lithium, nickel and rare earths are fundamental to clean energy technologies that will support decarbonisation efforts. The forecast market for these commodities is strong, with Western Australia well positioned to establish itself as a globally significant and trusted partner through the value chain.
CME is working with Australian Venture Consultants to articulate the opportunity based on changing trade and investment dynamics, and to put forward solutions that will improve the competitiveness of WA industry. With member participation from a cross-section of critical minerals, CME has formed a Critical Minerals Working Group and is working with the State and Federal Governments to implement measured policies to realise the opportunity on offer.
The role mining plays in underpinning the global energy transition is further evidenced and discussed in PwC’s most recent Global Mine Report. The report concluded, “With strong balance sheets and abundant free cash flow, miners have never been better placed to take advantage of new opportunities and ensure sustained outcomes.”
Contact: Joseph Doleschal-Ridnell, Specialist Industry Competitiveness
Email: joseph.d@cmewa.com
Infrastructure Australia review
The Federal Government has announced an independent review will be launched into Infrastructure Australia. As indicated in the terms of reference, the review will examine the role of Infrastructure Australia as an independent adviser and its capacity to advise government on strategic infrastructure priorities. The review will provide a report for the Minster of Infrastructure, Transport, Regional Development and Local Government to consider.
With recent data from the Pilbara Ports Authority highlighting that the authority has reached record annual throughput in the 2021-22 financial year, noting more than 42 per cent of the global iron ore trade and almost 7 per cent of global LNG trade passing through these ports in this period – the imperative for productive and sustainable infrastructure investment to support resources sector activity is of vital economic importance. CME will continue to monitor the review progress and update members accordingly.
Contact: Liz Crompton, Policy Adviser Industry Competitiveness
Email: l.crompton@cmewa.com
