MINISTER MADELEINE KING: It’s great to be here in Kalgoorlie at the opening of the Lynas Rare Earths processing facility. This is a project of national and global significance. It does make Lynas one of the largest rare earths producers in the world. It’s an amazing opportunity for Kalgoorlie and also for Laverton where the Mount Weld mine is. So I’m delighted to be here, a real step change in our government’s vision for a Future Made in Australia but also a great tribute to the hard work of all the people that work at Lynas Rare Earths. 

JOURNALIST: So in the context of this week’s US presidential election, how important is a facility like this? 

MINISTER MADELEINE KING: A facility like this is important because it diversifies where we get rare earths prospects from. And we need rare earths oxides and what they go into green technology, but also for defence applications. So having a processing facility here in Australia in Kalgoorlie, at the heart of the nation, is super important because it provides partner nations with the ability to have a diversified supply of rare earths. 

JOURNALIST: How important given the collapse of the nickel industry this year is something like this starting up to prop up an economy like in Kalgoorlie that has lost Kalgoorlie nickel smelter only last month? 

MINISTER MADELEINE KING: Well, the Kalgoorlie nickel smelter was really important to Kambalda and Kalgoorlie. It had been there for over 50 years. So to have another operation of this sort of magnitude that employs hundreds of people is super important. But there are still challenges. We know when the nickel smelter stopped we no longer had the supply processes [Indistinct] for Lynas Rare Earths. So that’s a challenge we’ll work on with Lynas to make sure those supply chains are put in place so they can continue to operate. 

JOURNALIST: There’s been criticism of the government both state and federally of how critical minerals have been – projects have been supported. How are you looking at those projects moving forward? I mean, regardless of what happened previously, nickel has collapsed where we’re still moving forward with decarbonisation around the globe. How do you see it from your point of view? 

MINISTER MADELEINE KING: Well, critical minerals and rare earths are very much at the heart of the Albanese Government’s plan for a Future Made in Australia. They are the building blocks of green technology and also defence applications. So the building blocks of all the things Australians want, whether it be mobile phones or laptops or new technology. So they’re vitally important. We will continue to support the critical minerals and rare earths industry through the $17 billion we’ve committed to a production tax incentive. And that is about making these projects more financially viable in an international market which is under severe stress because of oversupply in some parts of the world. 

JOURNALIST: Product that is mined at Mount Weld process here will be shipped eventually to Texas for – under a contract with the Department of Defence in US there. Does that strengthen the AUKUS ties in your opinion, these sorts of projects? 

MINISTER MADELEINE KING: Any supply chain where we can increase our trade with our partners in the US and elsewhere always strengthens those relationships. Trade is about strengthening relationships, and that’s why it’s so important to keep both happy [indistinct]. So the product from here will go to places in Malaysia but equally to the US and the really important projects with [indistinct], again, of enormous national significance. 

JOURNALIST: And how many – this is the first of its kind in Australia. Do you think there’s any potential for more? 

MINISTER MADELEINE KING: Well, we know there’s potential for more. This is the first and it’s done by blood, sweat and tears and hard work by the people, the management of Lynas Rare Earths. But the Albanese Government has backed in Arafura Rare Earths as well in Alice Springs. It’s a really important mine processing facility. They’re a lot further – they’ve got a lot further to go than Lynas, but we’ve helped them through the Northern Australian Infrastructure Facility and the Critical Minerals Facility. There is also the Australian Strategic Materials in Dubbo in New South Wales which is also rare earths facility. There is the Iluka facility that is under construction right now [indistinct]. So there are other prospects, but Lynas is the one that is working right now. 

JOURNALIST: Kim Beazley at the Diggers and Dealers Conference in August in Kalgoorlie said that the government should be getting involved in the trade, the direct trade, of these materials, as China does to manipulate markets to a degree. Is there any possibility that the government would look at, consider those sorts of things, given we are in a depressed market at the moment? Is that anything that the government would look at? 

MINISTER MADELEINE KING: So Australia does have the possibility to lead globally in critical minerals and rare earths, and that’s what we’re doing. Companies like Lynas are doing it and others as well. The government is introducing a production tax incentive but we’re also – have put $2 billion into the Critical Minerals Facility to help finance these projects that are difficult to get going because of the market – the international market manipulation. Really importantly, we’re working with other countries on finance. Among others Japan, Korea, the US, the UK, Germany, France. Germany has a billion dollar fund – euro fund, sorry, and France has a [indistinct] to put in for projects similar to Lynas right around the world. But we want some of that funding to come to this country, and that’s what I am doing to make sure we can bring international finance, from governments and private enterprise alike, to build a sustainable and diversified critical minerals processes. 

JOURNALIST: I just wanted to just further talk about the – what you said about the – he said the government should be buying these directly, these products directly from Lynas, stockpiling them and then distributing them as the government sees fit. More nation – I forget exactly how he described it in August, but is that something the government doesn’t want to be involved in? But [indistinct] strategic [indistinct]? 

MINISTER MADELEINE KING: Yeah, well, critical minerals and rare earths are of geostrategic importance, there’s no doubt about that. And I have had many conversations with Kim Beazley about this very topic. Stockpiling is one way that you can secure that supply. But it comes with risks as well. So, you know, we look at all the options. At the moment we are working with partner nations on the finance network. There are other discussions being had about how we can …. and diversity those supply chains. At the moment, though, you’ve got to remember that this facility behind me, the Lynas Rare Earths Processing Facility, is the only one operating. So we can’t even stockpile right now because the stuff isn’t there. So we really have to think ahead, and that’s the planning and infrastructure.  

JOURNALIST: Just on the infrastructure, power reliability, [indistinct] mentioned earlier that your plan [indistinct]. What are the plans for the [indistinct]? What will they look like? 

MINISTER MADELEINE KING: Well, I mean, Lynas has always been very open and honest with the challenges they face on this site and others, as is the whole resources sector I might add. So as a result of what we – [indistinct] with a short power outage which led to many hours of extra work for when I get away from this space into a quiet room, I will make sure I contact the State Government and just see, you know, how can we work together to try to improve the situation. And I must – I want to be clear, you know, Lynas has raised issues about this before. We know it’s a challenge. We know the system is under pressure. [indistinct] system, but the Federal Government will work in a cooperative manner with the state government to try and do something about this. And, you know, I know it’s not just Lynas; it’s important for the community as well. We know Kalgoorlie is a place of great significance to WA but the whole country, and they deserve to have the extra power. That’s what they expect. [indistinct]. 

JOURNALIST: Is it embarrassing for a WA Government of a first world country where we’re having a $800 million facility opened and the power goes out? 

MINISTER MADELEINE KING: Well, obviously it’s not perfect, but we still – you know, we need to work to make things better. Continuous improvement is what it’s all about. There’s a lot of demands on the system and, you know, with the [indistinct] a lot of hard work. I know the minister is very aware of the challenges. [Indistinct] like Kalgoorlie but also a massive influx of industry development, which is a really good thing. But the challenge for government is keeping – making sure that infrastructure is keeping up with that. …  We’re working on the feasibility study on common user infrastructure with the state and the federal governments working together and we can see Kalgoorlie could be a really important piece of that puzzle. 

JOURNALIST: Last question: I know – 

MINISTER MADELEINE KING: Yeah, I have to get going. 

JOURNALIST: What do you think if any impact on the resources sector in Australia Donald Trump winning the presidency will have? 

MINISTER MADELEINE KING: Well, you know, the resources is all about trade in this country. We depend upon trade. We’re a trading nation and have been with agriculture and of course mining. Fortunately, America is also a very important trading nation and the largest economy in the world. So, you know, I congratulate their democracy and for having a peaceful vote, and I have no doubt there will be a peaceful transfer of  administration. Our resources industry will keep on doing what it does and getting better and better and bigger and bigger, and we’ll work with whoever is in the White House, as we always have.

JOURNALIST: Thanks.