Market update: resources
In 2023, both the Australian Federal and State Governments are expected to continue to increase their efforts to secure domestic supplies of coal and gas, as they attempt to address projected supply shortages, creating, as some stakeholders say, a type of ‘resource nationalism.’ For those stakeholders, operating in the Australian resources market in 2022 was […]
Market update: renewable energy
The Australian energy sector has evolved considerably in the last 12 months. Following the Federal election, we saw Prime Minister Anthony Albanese acknowledge Australia’s significant potential to become a renewable energy superpower and enact a series of energy policies aimed at driving the country forward to 2030 and beyond. After a period marred by a divided, […]
Market update: critical minerals
2023 outlook The surge in demand for critical minerals is expected to continue in 2023 and beyond, as battery and automotive sectors source these minerals to facilitate global decarbonisation targets. The investment in clean energy technologies – and in turn, the demand for the minerals which make up those technologies – is expected to quadruple […]
Panic at the pump: shortfalls in Australia’s gas supply and intervention measures
2023 outlook Predictions in 2022 of a gas shortage in Australia’s east coast energy market have extended into 2023, with continued concerns for the stability of the country’s energy supply. The Australian Competition and Consumer Commission’s (ACCC) most recent gas inquiry report (released on 27 January 2023) forecasted a 30 petajoule (PJ) shortfall in the Australian east […]
The future of foreign investment: the role of the Security of Critical Infrastructure Act
Foreign investment in the Australian energy and resources sectors has long been subject to a national interest and national security test. These tests ensure that investment by foreign entities remains overall beneficial, in light of issues concerning Australia’s sovereignty. Recently, a significant increase in global cyber attacks from nation-states, state-sponsored actors and transnational cybercrime syndicates […]
M&A trends in resources and renewables
The Australian M&A market resurged in 2021 with record-breaking deal activity as investors turned their backs on pandemic-induced economic uncertainty. With significant amounts of deployable capital preserved as a result of cost-saving initiatives during the height of COVID-19, this trend continued strongly through the first half of 2022, but trailed off in Q3 as a […]
Money talks – reporting convergence across project finance and capital raising
Last year we highlighted the impact that ESG initiatives are having on financing Australia’s significant resource and renewable industry. 12 months down the track, and access to capital to fund the next wave of projects and investment continues to be one of the major challenges for Australian project operators, however the new era of reporting frameworks […]
McR ESG: spotlight on green commodities – more than unlocking customer premium
Interest in the supply of ‘green products’ has never been higher. Both from producers looking to offer a differentiated product and possibly unlock premium pricing but also from customers under pressure to demonstrate their commitment to sustainability by procuring carbon neutral or lower emissions products. The commodities market has been experiencing these shifts for some time […]
Update on the Michael Roche Scholarship
In 2021, McCullough Robertson Lawyers, through the McCullough Robertson Foundation, committed $100,000 to establish and support the Queensland University of Technology (QUT) Michael Roche Scholarship (Scholarship). The Scholarship drives innovation in the areas of environment, sustainability, or climate change within the resources and renewables industry, by supporting insightful leadership and creative vision in originating concepts […]
Overlapping resources and renewables developments – can these projects co-exist?
Approximately 95% of Australia’s landmass is uninhabited, giving the impression that little competition exists for the development of this land. In reality, vast areas of the Australian continent are endowed with valuable resources that are critical for the development of new ‘clean’ technologies, and this same land is often also ideal for other competing land […]
Riding the wave of renewable energy – when will Australia become a world leader in offshore wind?
Australia’s offshore wind farm journey so far The Albanese Government’s Rewiring the Nation policy has promised an investment of $20 billion towards the modernisation of the electricity grid to unlock the commercial development of large-scale renewable energy projects. With an ambitious focus to increase overall renewable energy production to 82% of the National Electricity Market generation […]
BESS retrofit projects – as easy as plug and play?
Battery energy storage systems (BESS), when co-located with a solar or wind farm, provide a more reliable generation source by charging during periods of high irradiance or high wind and discharging to meet demand during periods of low irradiance or low wind. Given this, we are seeing an increasing number of new solar and wind […]
Is this the end of enterprise bargaining?
For 30 years, the industrial relations regulatory environment in Australia has entrusted employers and their employees to negotiate the most suitable terms and conditions for their collective circumstances. The Fair Work Legislation Amendment (Secure Jobs, Better Pay) Act 2022 (Cth) (Fair Work Amendment Act) fundamentally alters this dynamic, such that conditions of employment will be set […]
Significant resources safety act changes in the pipeline
Representing the vanguard of upcoming changes to Queensland’s resources safety laws, in late 2022, the Coal Mining Safety and Health Act 1999 (Qld) was amended to include ‘direct employee requirements’. Those changes now provide that a coal mine operator must not appoint a person to certain statutory positions unless the person is an employee of: […]
Insurance sureties: an alternative solution for environmental rehabilitation securities
All Australian jurisdictions have their own laws regarding the provision of security for mine rehabilitation works. For example, New South Wales has had in place for some time, the ability for this security to be provided in the form of insurance sureties. In 2019, Queensland introduced a new regime enabling the use of insurance sureties as […]
Navigating new sanctions
Last year, we forewarned that the full impact on the Australian market of Russia’s invasion of Ukraine was yet to be realised. Some months later, the full force of the conflict has been felt by most Australians, primarily through the surging costs of gas and oil. For some, an added challenge of the last 12 months […]
McCullough Robertson Lawyers recognised in Best Lawyers in Australia (2024 edition)
McCullough Robertson is delighted to have 43 senior legal professionals recognised in the latest edition of the peer-reviewed Best Lawyers in Australia, with Cameron Dean, Tim Longwill and Phillip McGowan receiving ‘Lawyer of the Year’ in their respective categories, as featured in the Australian Financial Review. We are also pleased to announce that Michelle Guy, […]
Key modern award changes – Shutdown periods and penalty rates for Professional Employees
Two major changes to modern awards will be implemented in 2023 including a revised approach to unpaid leave during temporary shutdown periods for 78 modern awards, and new penalty rates for employees working over 38 hours per week under the Professional Employees Award 2020. This is a timely reminder to employers to ensure that […]