A coalition government would commit $418.3 million to ensure the viability and competitiveness of Australia's resources sector, Opposition Leader Tony Abbott says.
Speaking on Saturday at the Perth premises of underground mining contractor Barminco, Mr Abbott said the outlay would restore investor confidence and help ensure continued exploration to find mineral wealth for the future.
He said the coalition would implement a $150 million exploration development program starting in 2011-12.
This will be delivered through tax credits to Australian resident shareholders.
The coalition would redirect $158.3 million from the carbon capture and storage flagship program towards clean coal technologies, he said.
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It would also redirect $45 million from the carbon capture program to develop soil carbon technology.
Additionally, it would redirect $45 million from the carbon capture program to accelerate development of carbon capture through biological sequestration technologies such as algae.
