Submission - Critical Minerals Strategy 2023

Submission - Critical Minerals Strategy 2023: discussion paper

Summary

The Australian Government is developing a new critical minerals strategy that outlines priorities for the sector, including how it can contribute to furthering Australia’s emissions reduction. Transparency International Australia welcomes the Australian government’s commitment to upholding high environmental, social and governance standards in the development of their Critical Minerals Strategy.

It is imperative that this commitment not only takes into account Australia’s domestic impact, but that it takes in to consideration the implication of Australia’s mining sector’s global footprint. There are more than 700 ASX listed mining, oil and gas companies operating in over 100 countries globally. Australia, as a world-leading mining country has a crucial role to ensure that the sector, and its energy transition, is sustainable and just.

SUMMARY OF RECOMMENDATIONS

Transparency International Australia offers nine recommendations to ensure Australia maintains its world-leading role in the mining sector by ensuring that its operations are transparent, accountable and participatory. This namely includes ensuring that Free, Prior and Informed Consent (FPIC) must be obtained from local communities, particularly from First Nations Peoples, before any project begins.

Due diligence processes also need to be strengthened, including the development of a publicly accessible beneficial ownership registry. The Australian government also needs to strengthen standards and regulations in relation to consultation processes, protection of whistle-blowers and gendered impact assessments. By working collaboratively to strengthen transparency and accountability, we can ensure it performs to the highest standards of integrity.