Critical mineral tax breaks poised to move as Anthony Albanese tells enterprise he’s centered on progress | USAEMALL.com

Labor is poised to secure a political win before the election, with the Greens set to back the Government’s tax breaks for new projects producing processed critical minerals and green hydrogen in a Senate vote as early as Monday.

Prime Minister Anthony Albanese hopes the passage of the production tax credits — much of which will flow to WA projects — will underscore his message to industry leaders that his is a Government focused on new opportunities to build economic growth.

The Coalition has opposed the $17.5 billion in tax breaks from their announcement last May, despite support from Liberals and Nationals in WA.

Throughout this, the Greens have been locked in negotiations with the Government to pass the laws.

Sources close to the talks on both sides said they were in the final stages and a vote should be possible on Monday or Tuesday.

“Growing critical minerals processing is critical to climate action and our economy. The best job for a coal miner is another mining job and we want to facilitate that,” Greens leader Adam Bandt told The West Australian.

Private investors have pursued plans for $10 billion worth of critical minerals processing projects in WA since the incentives were announced last May.

While the money won’t be on the table until mid-2027, it guarantees a 10 per cent tax rebate on costs for up to 10 years of production after that.

International Graphite boss Andrew Worland last week told The West this would make working here significantly more competitive against overseas projects.

Resources Minister Madeleine King said the Coalition had made a “rash decision” to oppose the plan that would ultimately see Australia fall backwards.

“The fact Peter Dutton mocks support for thousands of jobs in WA and Queensland should send shivers down the spine of every hardworking, blue-collar man or woman heading off to work before the sun is up this morning,” she said.

“These are people I know, people I live near and people who are the backbone of the WA, Queensland and indeed the Australian economy.”

Mr Albanese will use the production tax credits as a key example in a renewed election pitch to business leaders sceptical of his industrial relations and environmental changes.

He has said that he wants Australia building up an economy that creates wealth and opportunity, encourages innovation, attracts investment and rewards hard work.

“That’s our Government’s vision but it can’t be realised by government alone,” he will tell business leaders at an Australian Industry Group dinner on Monday evening.

“We recognise that just as good jobs and fair wages depend on successful businesses, national prosperity depends on the engine room of private enterprise and the growth that private capital drives.

“That’s why our Government has focused on providing business with the incentives, opportunity and certainty to invest — in new energy, new projects, new technology and new markets in our region and around the world.”

It’s a similar message to the one delivered by Treasurer Jim Chalmers to a private dinner with 30 chief executives representing the Business Council of Australia last week.

Both senior politicians have acknowledged Labor and business lobby groups have not always been aligned over the past couple of years.

But Mr Albanese said the “constructive engagement” brought different perspectives to public debate in which “we all share the same objective, founded on the same understanding”.