Wednesday, 12 October 2022

Shadow Minister for Resources, Senator Susan McDonald, has today welcomed the investment agreement between Queensland Pacific Metals and General Motors to supply the US car manufacturer with nickel and cobalt sulfate, an increasingly critical metal in future electric vehicles and other modern technologies.

“The need for minerals used in renewable energy components and batteries is only going to increase, Australia has huge reserves of them, and countries are looking for stable, conscientious and secure trading partners. Australia ticks all these boxes and can be the world’s exporter of choice but the Government must look at ways to take advantage of our unique advantage.

“The Federal Government needs to demonstrate it is serious in meeting the growing global demand for minerals Australia has in abundance. A lack of will to take the necessary action to dramatically increase the number of mines we will require will also affect the processing, port, rail and road development needed to facilitate our economic advancement.

“This agreement between GM and Queensland Pacific Metals is similar to many being struck between car manufacturers and mining companies around the world, and I congratulate them for reaching this accord. Australia should be a partner of choice, but the Government needs to do more to secure this investment.

“I also commend QPM for choosing to process its minerals near Townsville in North Queensland. The resources sector continues to provide stable, good-paying jobs in regional Australia, supporting numerous local businesses.”