Gina Rinehart was critical of the Federal Government at the Wagga summit. Photo: Supplied.
Billionaire Gina Rinehart has told a gathering in Wagga that net zero, excessive regulation and high taxes have has hurt the mining sector and that ordinary Australians will bear the consequences.
The mining magnate gave a presentation that was broadcast via video at a Bush Summit held at Charles Sturt University’s Joyce Hall on Wednesday (27 August).
Prime Minister Anthony Albanese and NSW Premier Chris Minns also attended the event, which was sponsored in part by Ms Rinehart’s company Hancock Prospecting Group.
After a short speech, Ms Rinehart played facilitator and interviewed three of her CEOs.
“Why do you think there is such a huge decline in investment in Australia?” she asked Hancock Prospecting CEO Garry Korte.
“The investment environment has become much less attractive because of poor government policy,” Mr Korte said.
“One of the biggest challenges is the impact of the net zero policies, which are continuing to increase the cost of energy in Australia, which, as we all know, is a big part of everything that we buy and use.
“On top of this, the recent industrial relations laws have not helped labour productivity and all industries are facing an ever increasing burden of red tape and bureaucratic delays. This impacts everyone because it results in fewer projects in the future, fewer jobs for our children, less revenue for government to be able to pay for essential services and will result in even less funding for important charities.”
Ms Rinehart reiterated the view that bad policy towards mining had flow on effects.
“Everywhere you look from homes, hospitals, vehicles, fire brigades, TVs, offices, iPads and mobile phones, there’s very little that doesn’t contain mined minerals, including machinery needed to make everything from home appliances to cars and planes,” she said.
“There’s almost nothing that doesn’t require mining minerals or that needs the machines made of minerals, including to provide the clothes we wear, even the food we eat.
“We would simply not have the country we live in and our standards of living if it were not for mining.”
Ms Rinehart also asked her New Projects CEO Sanjiv Manchanda about the impact the Australian Government’s commitment to achieving net zero greenhouse gas emissions by 2050 had on mining.
“[The targets] are not only unrealistic, but they are impractical and they actually have a negative impact on the average Australian by increasing the cost of living, creating uncertainty, loss of jobs and reducing our living standards,” he said.
The Albanese Government has argued a strong Australian contribution to emissions reduction helps in the global effort to reduce major environmental, health and economic risks from the dangerous effects of climate change.
It says that a transition to low-cost renewable energy will put Australia in the good position to respond to new export opportunities, including clean energy, critical minerals and future fuels.
