Australia plans $13.7 billion in tax credits to boost green hydrogen and critical minerals industries.

Australian Treasurer Jim Chalmers plans to introduce $13.7 billion in production tax credits to parliament, aiming to boost the country's green hydrogen and critical minerals industries. The incentives, part of the Labor government's Future Made in Australia package, include a 10% refund for processing critical minerals and rare earths and $2 per kilogram for renewable hydrogen production. The Chamber of Minerals and Energy of Western Australia supports the move, saying it will "level the playing field" in the global market. The Greens will assess the legislation on its merits.

November 24, 2024
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