Hi Lewis
IF it is passed, July 2027 is when the proposed government critical minerals 10% tax credits deal kicks in - which is 23 months away.
…. I don’t know if that would give advantages from start of build of the processing plant, but it’s likely it’s not to be sneezed at if the credits do apply.
On that note will the bill be passed?
Dutton was apparently hinting support at the Diggers, but the Shadow Treasurer is back on the ‘billions for billionaires’ theme and has trashed any ideas the Coalition stand has softened..
Some here may recall AVL was part of the AMEC push to get the bill underway
Warren Pearce the AMEC chief is cross as a cut snake about the ‘double speak’ but Dutton says he’s been talking respectfully to relevant players about alternative Coalition supports.
(I wonder if some of that ‘respectful discussion’ about alternative support was with Graham?)
Warren has effectively snorted at that a bit and commented on the lines of many past political ‘piecrust promises’
Which way will it go?
And if the bill IS passed would AVL time works around it?
Today’s update from The West Australian is in the spoiler:
Simone GroganThe West Australian
Thu, 8 August 2024 4:27PM
AMEC chief executive Warren Pearce. Credit: Danella Bevis/The West Australian
A peak mining group is pushing the Federal Opposition to pick a side on an industry-backed critical minerals credit after Shadow Treasurer Angus Taylor and Opposition Leader Peter Dutton took different lines on the incentive within days of each other.
Association of Mining and Exploration Companies chief executive Warren Pearce said it had been “refreshing” to hear Mr Dutton tone down his criticisms of the policy during during a four-day visit to WA and a pit-stop at Diggers & Dealers this week.
The comment comes just days after Mr Dutton made an appearance at the Diggers & Dealers conference in Kalgoorlie, where he took what’s been interpreted by industry as a softer stance on a previously firm opposition.
Mr Dutton told media on Monday he had been having “respectful discussions” with “significant players and different companies” since the Budget and that there would be “more to say” about how the coalition could provide support.
“At no stage during his recent trip did he seem to oppose the idea like he once did,” Mr Pearce said.
“Angus Taylor couldn’t be clearer on radio this morning that he does not support the production tax incentives. We can only assume, either he is at odds with his Leader, or there has been no softening of the Opposition’s position.”
Mr Pearce said WA miners and explorers had heard the same promises about getting “back to basics” and reducing approvals bureaucracy “for decades” and “neither political party has delivered on these promises in their time in Government.”
AMEC successfully drove a huge Canberra lobbying effort to have production tax credits included as part of the 2024-2025 Federal Budget tabled in May.
And while the incentive has copped some criticism because it won’t take effect until July 2027, miners have largely welcomed the credit as a means of encouraging new investment into an industry beyond digging and exporting.
Mr Pearce said statements of support “must be turned into something concrete.”
“The Opposition still has the opportunity to re-consider their position and provide support for this important initiative,” Mr Pearce said.
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