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Australia’s next super Pitt

ueensland senator Matt Canavan’s jobs growth in the sector. Minister Pitt; he is a regional MP and you
Qrole in the National Party’s leader- “He’s been good at the exploration can see he gets the realities of regional
ship turmoil and his subsequent resigna- end too. He helped the JMEI get up and communities and understands how the
tion as Federal Minister for Resources hopefully that will be a long-term legacy. mining industry contributes to regional
and Northern Australia did little to dam- If that can continue it will be a wonderful communities. Certainly, some of the po-
age his reputation in the industry. thing to encourage and support green- sitions he has taken in the parliament are
fields exploration,” Pearce told Paydirt. really encouraging around those inquir-
“[Canavan] was really active early ies around nuclear energy which dem-
about critical/battery minerals and the onstrates he is someone who is thinking
value chain opportunities. He has really about how our industry can benefit Aus-
seen the opportunity for down-stream- tralia.”
ing, the Federal Government has been Pleasantries aside, Pearce will be de-
active on that. Canavan in particular has termined to push Pitt hard on the future
been active on the critical minerals front of the JMEI.
with the US, looking at those partner- Introduced in FY2018, exploration
ships that might come out of the defence credits under the JMEI were initially
space. He also realised the EV oppor- capped at $15 million followed by $25
tunities and I think he has really driven million (FY2018/19) and $30 million in
outcomes himself.” FY2020 and another $30 million in 2021.
Canavan’s role in promoting Australia’s “The first port of call is to meet the
importance in the critical minerals space new minister and get a feel for where
was also applauded by Queensland Re- he wants to go, but really press the im-
sources Council chief executive Ian Mac- portance and urgency of the JMEI being
farlane who urged incoming Minister for continued,” Pearce said.
Mining, Resources, Water and
Northern Australia Hon Keith Pitt
to capitalise on the momentum.
“We are also keen to see the
ongoing development of the
critical minerals strategy where
Queensland has an important
Matt Canavan role to play in the development of
renewable energy minerals such
Australia’s leading mining and resourc- as cobalt, nickel, rare earths,
es member groups were unified in their vanadium and manganese, and
praise for what Canavan had delivered advanced technology minerals
since taking on the resources portfolio such as rare earths, scandium,
in 2016. tungsten and molybdenum,” Mac-
Among the initiatives Canavan can farlane said.
take credit for are developing the coun- “QRC looks forward to the new
try’s first National Resources Statement minister building on the substan-
in over 20 years, introducing the Re- tial policy work of his predeces-
sources 2030 Taskforce, driving the criti- sor Senator Matt Canavan, espe-
cal and battery minerals strategy with an cially in the areas of maintaining
emphasis on downstream possibilities Queensland’s role as a resources
and implementing the $100 million Junior powerhouse through our coal,
Minerals Exploration Incentive (JMEI). gas and minerals sectors.”
The JMEI has enabled eligible explo- Pearce said the political land-
ration companies to generate tax credits scape around coal and nuclear in the Keith Pitt
by choosing to give up a portion of their energy mix changed daily. He was inter-
losses from greenfields mineral explora- ested to see Pitt’s approach, but was in “We are in the fourth year of the pro-
tion expenditure. no doubt the Member for Hinkler (coastal gramme, which means a decision needs
“These tax credits can then be distrib- Queensland) would continue the Nation- to be made in the Federal Budget this
uted to investors who purchase newly is- als’ consistent views and strong ideolo- year about continuing the programme.
sued shares in that eligible entity during gies on particular issues. We need him to understand why that
a certain period,” as stated by Canavan “Maybe [the Nationals] haven’t taken programme is important, how important
when the JMEI came into play in FY2018. up some issues as forcefully as people that programme is for industry in Aus-
Association of Mining and Explora- might have liked them to in some instanc- tralia and why we need his full support
tion Companies chief executive Warren es, but I think we will end up with a really to continue and extend that programme.”
Pearce said Canavan had done an ex- strong supporter of both those [nuclear – Mark Andrews
cellent job and worked hard to help com- and coal] industries,” Pearce said.
panies bring projects to fruition and see “We feel it is a portfolio which will suit

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