Source: Prime Minister of Australia
begin by acknowledging the traditional owners of the land on which we meet and I pay my respects to their elders past, present and emerging.
I am pleased to be back at your annual dinner and to be joined by so many of my parliamentary colleagues.
This year’s event comes at a testing time for the world – and a pivotal moment for Australia.
There are two critical challenges confronting us:
One, we must navigate the global economic storm that the war in Iran has unleashed.
And two, we must emerge from it stronger, more resilient, more secure and more self-reliant.
The Australian resources industry is critical to our nation achieving both of these goals.
First, the here and now:
Our Government has been investing in Australia’s fuel security for four years.
But we do not underestimate what we are up against.
Earlier today I met with the Executive Director of the International Energy Agency, Doctor Fatih Birol, who joins us here tonight.
The IEA have spelled out the unprecedented scale of this challenge.
And we know that a more volatile world demands continuous preparation.
Indeed, we want Australia to be overprepared.
That’s why we have taken significant new action in the past fortnight:
Releasing up to 20 per cent of the baseline Minimum Stockholding Obligation for petrol and diesel.
Providing our refineries with the certainty they need to keep making fuel in Australia.
Temporarily amending our fuel standards so that all the fuel we make here is available for Australians.
Working with our trading partners to secure supply chains in our region.
And, at National Cabinet last week, establishing a Fuel Supply Taskforce.
A single point of co-ordination with states, territories and industry to ensure that the additional petrol and diesel we have made available, gets where it is needed most.
Our Government will continue to look at every practical option to protect Australia from the worst of this international crisis.
Putting our faith in the practicality – and patriotism – of Australians.
Expecting people to do the right thing by each other – and businesses to do the right thing by Australia.
Because that is the orderly, constructive way we operate as a government.
And because the best way to deal with global uncertainty, is to mobilise all our national strengths.
Again, that is where the mining industry is so important.
From the economic and strategic weight of your connections to North Asia, the wider region and our partners around the world.
To the combination of traditional resources and critical minerals that no other trusted, stable democracy on the planet has in such abundance.
As well as the infrastructure, technology and practical expertise to help with distribution – particularly for sites and projects in remote Australia.
What the companies in this room do every day, is essential for dealing with the challenges confronting us.
And for seizing the opportunities ahead of us.
I understand that when you are grappling with turmoil in your supply chains.
Unprecedented disruption to petrol and diesel markets
And local pressure points, as well as global ones.
It can be hard to look much further than the end of the day, hard to contemplate the future, let alone plan for it.
But this is precisely the time when all of us need to be thinking about what comes next.
Positioning ourselves for a decarbonising global economy that will need more copper, more rare earths and more iron ore.
And preparing ourselves for the economic aftershocks that will follow this conflict.
Because the disruption we are already seeing in the global economy is not due to arbitrary trade barriers, or sanctions tied to strategic competition.
It goes deeper than that.
This is about ongoing threats to the safety of global shipping routes.
And the physical destruction of oil and gas infrastructure across the Middle East.
So even if we were to wake up tomorrow to the welcome news that this conflict was over, there would still be a long economic tail to reckon with.
All of this underlines a simple reality.
The stable, predictable world of ever-expanding free trade is gone – and it will not be returning any time soon.
More than most, your industry helped build that world – in every sense.
Your resources transformed the skylines across Asia.
You powered new industries and created new prosperity throughout the region.
You broke down old trade barriers and built new economic bridges, because what you offered was the best in the world.
And in doing so, you not only elevated Australia’s presence and reputation in the region, you created new skills and jobs and wealth here at home.
None of the changes underway in the global economy devalue any of these achievements, far from it.
In a more volatile world, these strengths are worth more.
Which is why your industry and our nation can do more than merely withstand, or adjust or react to the change underway in the world.
We can work together to shape the future, not wait for the future to shape us.
We can anticipate and create stronger, fairer, more resilient economic growth.
This is what our Government’s plan for a Future Made in Australia is all about.
Investing in the skills and energy and infrastructure and relationships that mean we can stand on our own two feet.
Making more things here, by making the most of what we have.
By building on our unique and unbeatable combination of advantages:
The security and space of a continent to call our own, engaged in the fastest growing region of the world in human history.
A skilled and productive mining workforce that leads the world on quality and safety.
The clean, reliable, affordable energy to power a new generation of secure jobs in refining and manufacturing.
The critical minerals and traditional resources that every major economy needs: for next generation defence technology, for the jobs and investment of the digital economy – and to reach net zero.
And that other precious resource that Australia brings to the table: trust.
The certainty and confidence other nations take from dealing with our stable democracy, our transparent and robust financial system.
And mining companies known for quality – and integrity.
This is why the biggest economies in the world are knocking on our door.
In just the last six months, we have signed an historic Critical Minerals Framework with the United States of America.
When Prime Minister Carney was here earlier this month, we joined the G7 Critical Minerals Production Alliance.
Deepening the strong collaboration between the Australian and Canadian resources sector.
And tomorrow, when we welcome the President of the European Union, Ursula von der Leyen, critical minerals will be at the centre of our discussions.
At a time when the world wants what Australia has – all of us have a responsibility to ensure that our natural resources continue to deliver a national benefit, true to our national values.
Creating good jobs with fair wages for secure work.
Building up our skills base, our infrastructure, our energy grid.
And re-investing in the communities that support your projects – and the services that empower Australians.
Over the years, I acknowledge that from time to time we’ve had our differences on policy, just as the companies in this room are not always on the same page as each other.
I know that because my door is always open for direct discussions with Australian employers, job creators and exporters.
And because we do not have to agree on every aspect of every issue to build a constructive relationship, in the national interest.
That’s what matters – especially right now.
In uncertain times, Australians expect all of us to put the national interest first, to put our country first.
That’s my focus as Prime Minister.
That’s what I mean when I talk about progressive patriotism – the courage and co-operation to deal with global uncertainty, our way, the Australian way.
Backing our people, investing in their capacity – and trusting our values.
Working together. Looking after each other. And building for the future.
Right through our 125 years of Federation, the Australian Minerals Industry has been fundamental to our success.
But the biggest challenges – and best opportunities – are yet to come.
I look forward to working with you in the years ahead.