Planned new major Australian resource projects are stalling
GOVERNMENT REPORT CONFIRMS 47.000 MINING AND GAS NEW JOBS STALLED
Planned new major Australian resource projects are stalling at more than double the rate of a year ago with new analysis by the Government’s Chief Economist exposing $119 billion of stalled and cancelled projects in the coal, iron-ore and gas sectors.
The Coalition says the 81 projects worth $119 billion with an estimated workforce of 47,710 jobs have been stalled as the Albanese Labor Government mangles Australia’s economic and investment policies.
Shadow Minister for Resources, Senator Susan McDonald, said the new data made a mockery of Labor’s Future Made in Australia policy which she said was fast turning into a “nothing made in Australia” reality.
“Without our resources there is no manufacturing, and without both there is no so-called Future Made in Australia policy,” she said.
The Government's own annual report, “Resources and Energy Major Projects: 2024”, also confirmed the value of stalled projects was more than triple that of last year, where $34 billion of investment had been stalled.
“Under Labor, Australia is quickly losing its hard-earned international reputation as a reliable trading partner, a reliable investment destination, and a dependable supplier to our defence allies,” Senator McDonald continued.
“This represents the most severe threat to our resources sector yet – 81 projects, $119 billion of investment, at least 47,000 jobs – and yet the Government is either oblivious to the issue, or shamefully negligent in their inaction.
“This is the equivalent of scrapping the jobs of an entire regional city’s worth of workers thanks to Labor’s anti-investment policies.
“Queensland and Western Australia have the lion's share of threatened projects, 58 across the states, and yet all we hear from this Government is talk about their uncosted, unlegislated, and undelivered production tax credits.
“This reporting highlights that Labor has damaged our investment environment so greatly that our traditional foundation industries of coal, gas and iron ore are under severe threat.
“If Labor cannot even secure the investment pipeline for our traditional resources, what hope do they have of supporting any new investments in critical minerals or other future resources.
“This is yet again another Labor failure from a weak, irresponsible Prime Minister.”
