Cutting Red Tape: Mining Leaders at IMARC Call for Faster Approvals and Investment to Power Australia’s Future
- 29 October 2024
With rising demand for minerals that are essential to the world’s transition to renewable energy and technology, speakers at a keynote panel identified a number of barriers that continue to make it difficult to get critical projects off the ground.
They agreed that Australia’s chance to lead in this competitive market will depend on regulatory alignment, streamlined approvals, and stronger community engagement.
NSW Minerals Council CEO Stephen Galilee explained that regulatory delays and inconsistencies between federal and state processes are creating bottlenecks that could ultimately send investment elsewhere.
“My call to action would be for governments to walk the walk. Don’t just do the easy things. Do some of the hard things. Please just do some hard things that you think are politically risky to make these projects happen, or they aren’t going to happen, and the future won’t be possible,” he said.
“NSW has the potential to go from 12 or 15 critical minerals projects to double that number if we can get those approvals and that investment,” Mr Galilee said, adding that while the NSW government has shown strong support, federal approval processes need to align more closely, or risk stifling critical projects.
Rowena Smith, CEO of Australian Strategic Materials (ASM), added that the pace at which those approvals are received is equally important – especially where securing critical minerals supply chains.
“The opportunities for improvement are speed, and that’s largely about administrative efficiencies and resourcing…getting that certainty here around the approvals is critical,” Rowena Smith said.
She emphasised that without faster pathways, Australia’s standing in the critical minerals sector could be quickly overshadowed by competing regions.
The industry leaders also acknowledged the role of public perceptions and community support in advancing the industry. Galilee shared recent polling showing record support for mining in NSW, with nearly 70% of residents backing the sector – the highest approvals in a decade.
He attributed this to consistent industry engagement and transparency around mining’s contributions to the local economy and global energy transition efforts.
“We’ve been running very positive messages about our industry, and these are scientific surveys done by independent polling companies. We should be proud of this story,” he said.
Melissa Winks, Head of Safety and Sustainability at Newmont Australia, reinforced the need to balance environmental and economic imperatives. She noted that regulatory delays not only discourage investment but also complicate community relationships by creating “engagement fatigue” in regions where mining companies operate.
“We must find a balance between environmental protection and economic opportunities that will allow our communities to thrive; delays and duplications in approvals are real disincentives to investment,” Winks said, adding that the industry needs to work closely with communities to shape a clear and positive narrative.
Through key collaborations between governments and businesses across the sector, industry leaders believe Australia can cement its role as a global powerhouse in the sustainable energy future.
IMARC will run through to Thursday 31 October, providing an essential platform for these discussions, uniting industry voices to tackle shared obstacles, harness opportunities, and drive partnerships and crucial insights.
