Minister for Resources and Northern Australia Matt Canavan during Question Time in the Senate at Parliament House in Canberra, Wednesday, Oct. 12, 2016.
Minister for Resources and Northern Australia Matt Canavan during Question Time in the Senate at Parliament House in Canberra, Wednesday, Oct. 12, 2016. AAP Image - Mick Tsikas

Trump's election is a good thing: Resources Minister

MINISTER for resources Senator Matt Canavan has gone on the Sky News Network's The Latest With Laura Jayes program to talk up Australia's primary industry prospects in the wake of Donald Trump's election as president.

In the interview he touched on the impact Trump's election will have on the local resources industry, the Paris Climate Change Agreement and on coal and iron prices. 

"I do think that the election of a Trump administration is good news for our resources sector, good news for fossil fuels in particular, and that means it's good news for Australia," Senator Canavan said. 

"Our two biggest exports are iron ore and coal, integral to that part of the economy, and Trump has said that he will ease restrictions on the coal industry in the United States.

"We've certainly seen a reaction from markets where resource stocks are up between 10 and 20 per cent - some higher than that actually."

The minister also confirmed Australia's commitment to the Paris Climate Change Agreement, having ratified the agreement the day after Trump's election. 

"We've ratified that, our commitments stand, but of course I don't believe our commitments are in any way inconsistent with a strong fossil fuel industry, inconsistent with a strong coal sector here in Australia," he said.

"Indeed, the development of a resource like the Galilee Basin and like the Adani project will be good for the environment because it's high-quality coal."

Senator Canavan was also asked what broader political lessons were to be learned from Trump's anti-establishment rhetoric and his election based on those principles.

"Look, we are a different country. It's not, I don't think, the same as America," he said.

"But I think in Australia, and particularly in country areas, is people do feel like they're patronised or talked down to at times - if you have a different view on something like same-sex marriage, or if you support the mining sector for example.

"Lots of our commentary and feedback comes through in a dismissive way, in a patronising way, and people are going to get frustrated, and you shouldn't be."


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