Good governance will be key to Australia’s critical minerals industry, says NGO coalition

In response to news that the Commonwealth Government will develop a new $2 billion fund for critical minerals, good governance and financial transparency is essential says anti-corruption coalition, Publish What You Pay.

The increased demand in critical mineral driven by the energy transition will see new reserves opened up and new opportunities for mining companies in Australia and globally. This requires the Australian government to ensure that the industry benefits communities, especially Traditional Owners.

Clancy Moore, National Director of Publish What You Pay Australia made the following statements:

“We welcome the plan to support new critical mineral extraction in Australia announced today. The Prime Minister should ensure that our industry has the highest standards of transparency and accountability.”

“To help develop a world class critical minerals industry, the Australian government should re-start Australia’s efforts to join the 55 other countries and become an Extractive Industries Transparency Initiative (EITI).”

“At a minimum, companies should publish all their revenue payments, royalties, taxes, community payments and fees at the project level. This will help reduce the risks of corruption that exist in the mining sector.”