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It is a pleasure to be here to open Geocycle's Drum Recovery & Recycling System.
Today marks a significant achievement for Geocycle.
And can I say at the outset that I think it is an achievement which sets a great example for all Australian industry to follow.
As Minister for Resources and Energy, I have the privilege of having responsibility for two of Australia's most important sectors.
Many believe that our success in these areas is a result of luck.
And while it is true we have enormous natural resources and that this gives us a great advantages, it is also true that many countries have more resources - and are not nearly as successful.
What are too often overlooked are the factors which have actually kept Australia at the forefront of these sectors for so long.
Our international competitiveness is built upon our continued investment in new technologies, new processes, in innovation and the taking of initiative.
Ladies and gentlemen, this is a great initiative.
- Ultimately - it will produce high quality alternative fuel to replace fossil fuel usage in cement kilns.
- It cleans hazardous waste from steel drums and means vast quantities of steel can be recycled.
- It also uses the hazardous by-products for fuel.
I am very pleased that the Australian Government has supported this project.
Australia's cement industry is participating in the Government's Asia-Pacific Partnership on Clean Development and Climate - the APP.
My interest in the APP commenced with its formation in January 2006.
This Partnership is significant in that it brings together seven of the key emerging and developed countries of the Asia-Pacific region: Australia, Canada, China, India, Japan, the Republic of Korea and the USA.
Notably, it includes China and India.
As we all know China and India have grown at an extraordinary rate throughout the past decade. And they will continue to do so.
This is why the Australian Government - through the APP - has been pleased to contribute $4million to Geocycle's project.
The APP aims to accelerate the development and deployment of cleaner technology.
It does this through collaboration between governments, business and research organisations to foster innovation.
It's a unique approach.
Using eight government-industry task forces covering energy supply and energy-intensive sectors, the APP seeks to implement practical, achievable and economically sustainable solutions.
Cement is one of the energy intensive sectors it covers.
I am pleased to say that the Australian cement industry [through the Cement Industry Federation] has been a strong supporter and contributor to the APP Cement Task Force from the outset.
Australia's cement industry is leading the way in developing cleaner, more efficient technologies and creating a more competitive industry.
A key feature of this project is that Geocycle and Cement Australia have made it available as a demonstration plant for APP-member cement industries so they can see how to improve the environmental impacts of their industry, while remaining competitive.
Knowledge-sharing is already yielding global benefits.
Geocycle has worked with one of the largest global cement companies, the US-based Holcim, to implement a similar process and comply with the approval processes.
I congratulate Geocycle on its generosity.
One aspect of this project that I have not yet highlighted is its use of renewable fuels.
I am pleased to see the high quality alternative fuel being produced being used in the cement-making process, replacing fossil-based fuels.
It is often misunderstood that renewable energy always equates to low-carbon energy. This of course, is not always the case.
However the fuel produced in this process from waste is both renewable and low carbon.
In fact, the fuel developed by Geocycle has the potential to lower CO2 emissions by 18% compared with the use of coal.
Geocycle is not only providing industry with a solution to the disposal of hazardous waste, but also providing a world-leading example of how industry can reduce CO2 emissions and conserve energy.
Geocycle is demonstrating how Australian business can adapt to changing circumstances.
Today, I am very pleased to officially open this project and celebrate your vision and ingenuity.
It gives me great pleasure to open the Geocycle Drum Recovery & Recycling System and I wish everyone associated with the project every possible success for the future.