Critical Minerals Industry

Mr ALBANESE (Grayndler—Prime Minister) (15:03): I thank the member for Kennedy for his question. The member for Kennedy is a fierce advocate for his community, his electorate and for North Queensland. I do want to acknowledge firstly the workers affected by Glencore's decision to close the Mount Isa copper mine. The member for Kennedy is right for calling out Glencore on the future of Mount Isa. Workers are losing their jobs and the broader and proud north-west Queensland community is hurting. I also want to acknowledge the Keep Our Copper delegation, who are here in the gallery. You are fighting hard for your industry and for your region at different levels of government as well as the private sector.

Mount Isa, which I visited with the member for Kennedy on at least five occasions, is too important to Queensland and to the nation for there not to be Commonwealth involvement. That's why the Minister for Industry and Innovation, Senator Ayres, has been speaking with the Mount Isa community, Glencore and the Queensland government almost daily to protect the national interest and to protect the workers and families of Mount Isa.

Let's be clear about Glencore, though. It is a highly profitable company. Just this year, it paid $2.2 billion in dividends to its shareholders. Australia's been pretty good to Glencore; it's about time that Glencore recognise it needs to be good back to Australia. They should back the town that has backed them and has helped build the wealth of their shareholders.

Our plan for a future made in Australia is about keeping smelting and processing capabilities here in Australia, and the good blue-collar and engineering jobs that go along with them. We've backed this ambition with transformative industry policy: the National Reconstruction Fund, the production tax credits, the Green Iron Investment Fund and investing $2 billion for Australia's aluminium smelters to transition to clean energy. We're getting on with the job of supporting North Queensland and Australian industry.

The critical minerals facility within Export Finance Australia will be expanded by another billion dollars, taking it to $5 billion, to finance critical minerals projects. This facility is making a difference to Queensland. It has provided $160 million for the Alpha High Purity Alumina project, and has delivered more than $30 million to Queensland through the Critical Minerals Development Program. This is not a government-only solution. Companies that own Australian smelters must step up and invest in transforming their facilities to meet future opportunities.

I assure the member that I will continue to work constructively with him, as I always have. I know that the industry minister is very engaged in this issue, along with a whole-of-government response, because we understand how critical this industry is for his electorate but also for the nation.