On Tuesday 29 October 2024, the Australian Minister for Resources and Northern Australia, the Hon Madeleine King MP, and Timor-Leste’s Minister for Petroleum and Mineral Resources, His Excellency Francisco da Costa Monteiro, met at the International Mining and Resources Conference (IMARC) in Sydney.

The Ministers discussed the growing Timor-Leste minerals and mining sector and the important contribution the minerals and mining sector will make to Timor-Leste’s economic development and diversification. Australia is keen to support activities alongside the Government of Timor-Leste which aim to strengthen Timor-Leste’s national economy, diversify its revenue sources and promote private industry development.

The Ministers committed to building stronger connections between Timor-Leste and Australia in Timor-Leste’s growing minerals and mining sector with officials to identify activities for future collaboration.

The Ministers restated their commitment to cooperating on the necessary legal and regulatory frameworks to facilitate the movement of CO2 between the two countries to enable the storage of CO2 in reservoirs under the sea.

The Ministers reiterated their support for the ongoing talks between their officials and the Sunrise Joint Venture on finalising the Petroleum Mining Code; Fiscal Regime; and Production Sharing Contracts for Greater Sunrise project.

The Ministers continued their commitment to the mutually beneficial and commercially viable development of the Greater Sunrise project.