The Minerals Council of Australia welcomes the Federal Government's approval of Woodside's North West Shelf Project in Western Australia.
Today's decision is a positive step towards enhancing Australia's reputation as an investment destination, where major resource projects can still proceed while meeting high environmental standards.
This project of national and international significance will support energy security, boost supply for households and industry, and enhance the confidence of Australia's key trading partners.
Timely decisions are critical to attracting and retaining the investment essential to the Australian ongoing economic prosperity. Delayed, lengthy or uncertain project approval processes risk undermining confidence and competitiveness at a time when Australia is in a fierce global contest for capital.
Today's decision – which faced six years of delays as a result of the duplication of Commonwealth and State processes – highlights the need for an efficient and predictable Commonwealth system that protects the environment while weighing broader national interest and economic considerations.
