Media Release27 May 2026 Opening Speech to Australian Financial Review Mining SummitMCA chair Amanda Lacaze Perth Good morning and thank you for joining us here in Perth for the AFR Mining Summit. It’s a great honour to be representing the Minerals Council of Australia this morning at my first public event as the MCA Chair. At this time of great geopolitical uncertainty, Australia’s mining industry has never been more important to Australia’s economy and our international trading partners. I’m delighted this Summit brings together industry, government, investors, finance, professional services and of course our hosts in the media. We in the mining industry are charged with safely and sustainably developing Australia’s mineral endowment in a way that enriches the lives of all Australians. Our economic contribution is in the form of export revenue, corporate tax, state royalties, jobs, community support, and of course, returns to our shareholders, including via the superannuation funds that are so important to each and every one of us as we age. We have created a sophisticated, world leading industry that provides the foundation of Australia’s economic resilience and the inputs our trading partners need. Mining export earnings of $383 billion are forecast for the 2025–26 year and volumes are expected to reach almost historic peaks over the next 2 years. The breadth and wealth generation of our mining activities is quite extraordinary when you consider we only disturb about 1% of Australia’s land mass. Our prosperity and national strength leans heavily on our bulk exports, iron ore and coal, our traditional metals, and our new critical minerals – including not just my personal favourite, rare earths, but other specialty minerals such as lithium which are required for 21st century manufacturing. The Australian minerals industry not only contributes to our domestic resilience but also makes a valuable contribution to the global economy:
Here in Western Australia, our sector contributes $74 million every day to Federal Government revenues. As our industry steps up to provide the minerals the world needs for technology, the energy transition and economic resilience, the MCA has its eyes firmly set on the horizon. The members of the MCA share a passion for continued prosperity and growth in our industry. We are committed to operating safely and sustainably, adopting new technologies and systems, supporting continued improvements and always aiming to minimise our disturbance footprint. We have a strong track record of delivering high wages, lower unemployment, viable services and functioning local economies in the regional areas where we operate, and we aim to continue to do so. We recognise the importance of continuing to invest in exploration, automation and new technologies. These investments will support mining in continuing to provide the foundation of Australia’s economic resilience. However, we need governments to be our partners by providing constructive policy settings that encourage investment and productivity growth. Mining is the most productive industry in Australia by far (three times the next highest) and a consistently large contributor to our national income. Without the significant investment in mining in the early 2000s, Australia’s real GDP would have been about 14.5 per cent lower, average real household income 17 per cent lower ($19,160 less) and average weekly real wages 12.6 per cent lower ($248 less). Australia is vulnerable to competition for mining investment from other traditional and emerging resource-rich economies with lower input and regulatory costs and faster approval processes. Compared to many of these countries, Australian mining projects face high effective tax rates, slow and complex regulatory approvals, relatively high labour and construction costs, and rising energy prices. We seek to work with government to reduce these barriers to continued growth. By leaving mining tax settings unchanged in the 2026-27 Federal Budget, the Albanese Government showed the government understands mining’s immense contribution to Australia’s economy, jobs and regional communities. But we cannot stand still. The prosperity of our customers, our communities and our people depends on our continued growth and success. Today’s Summit is an excellent opportunity to challenge thinking, gain new perspectives, and ensure our sector continues to contribute to Australian wealth, jobs, communities and national resilience well into the future. I am really looking forward to a great day of insights and challenging conversations. For more information: |