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Probably the best thing hes ever said!

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truenorth

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23/02/23

10:53

Post #: 66415516
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Originally posted by Haplo: ↑

Fingers crossed this means another rejection from FIRB on Austroid third attempt.

Fin Article

Anthony Albanese has shown little enthusiasm for Chinese investment in Australia’s lithium mines, saying the government’s priority was for the mineral to be turned into batteries built locally.
The prime minister told the National Press Club that the domestic production of batteries and other clean energy technology was a key element of the government’s plan to shore up the nation’s sovereign manufacturing capacity that so was exposed during the COVID-19 pandemic.

“We’ll deal with issues of foreign investment according to the merits
of any proposal,” he said.
“But ... Australia has very much a direct interest in making more things here and improving our sovereign capability. That’s my starting point.
“Lithium has an extraordinary capacity. We need to not just dig it up. I want to make sure we use the lithium and nickel and other products we have to make batteries here.

“I think we should be making solar panels here. I think we should be making so many more things here in order to protect our national sovereignty.”
In January, amid a thawing of relations between Beijing and Canberra, China’s ambassador to Australia Xiao Qian expressed an interest to work with Australia developing such technology.
“Both governments have commitment to climate change or dealing with climate change,” .he said.
“There’s a strong potential for China and Australia to collaborate. For example, lithium-based batteries, electric cars, on EV, and EV cars.”
As part of the push, China’s Tianqi Lithium Corp has offered more than $90 million to buy Australian lithium developer Essential Metals (ESS), Chinese media has reported.
Before the thaw on relations the Morrison government, as a national security measure, spent considerable effort working with allies such as the United States to develop of rare earth deposits to ease dependency on Chinese exports.

The theme of Mr Albanese’s speech was national security, and he pushed the parliament to pass legislation for the $15 billion, off budget National Reconstruction Fund which is designed to boost Australia’s sovereign manufacturing capability.
Two of the seven priority areas for the co-investment fund is renewables and low emissions technologies, and value adding in resources.
“The National Reconstruction Fund is about more than helping us produce things at short notice in times of crisis,” he said.
“It’s about building a more resilient and more diversified economy, with more jobs in regional Australia.
“It’s about national security through economic sovereignty – our capacity to stand on our own two feet.”
The Coalition will oppose the legislation to establish the fund, arguing it could become a slush fund and that such off-budget funds are bad economics.

Mr Albanese said the fund would be administered independently much in the same way as the successful Clean Energy Finance Corporation.
As well as having a national security purpose, it would have an economic dividend, he argued.
“The NRF will help protect our economy from inflationary pressures,“ he said.
“The Reserve Bank has made it clear that supply-side shocks account for at least half and as much as three-quarters of the inflation in our economy.
“Our world-class universities have made Australia a higher education destination of choice.
“But we can be a leader in skills and technology and manufacturing as well.
“Put simply, as I said during the campaign: I want us to make things here again.”

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Probably the best thing hes ever said!

A40 Price at posting: 8.2¢ Sentiment: None Disclosure: Held
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