The 34th Meeting of the Australia-Japan High Level Group (HLG) on Energy and Minerals Consultations was held in Melbourne on 11 March 2011.
The meeting provided an opportunity for participants to obtain a better understanding of policy developments in our respective economies and explore opportunities for expanding trade and investment.
Both countries commenced discussions with an update on resources and energy policy and trade issues. Australia provided an update on infrastructure development to facilitate coal and iron ore exports, and Japan provided an update on their Basic Energy Policy (noting the meeting was prior to the earthquake and tsunami disaster). Australia welcomed Japan as a long-term investor in the Australian resources sector, and stable mineral and energy trading partner.
Australia provided an update on the new taxation arrangements in the resources sector, including the Mineral Resources Rent Tax (MRRT) and the Petroleum Resources Rent Tax (PRRT). Other topics of discussion included:
- opportunities for investment in the rare earths sector in Australia;
- developments in Australia’s natural gas markets, including Japanese investments;
- developments in Australia’s uranium production and exports; and
- developments in Japan’s nuclear energy industry.
The Department also hosted the 3rd Australia-Japan Coal Technology Workshop (CTW) on 10 March 2011. Australian and Japanese participants shared information on low emission coal policy and programs, including existing and proposed projects. A number of briefings were presented jointly by Australian and Japanese participants, reflecting strengthening commercial partnerships. The CTW recognised the important work of the Global Carbon Capture and Storage Institute in supporting Carbon Capture and Storage through international collaboration and information sharing.
The next meeting of the Australia-Japan High Level Group will be held in Japan in the second half of 2012.