Ferguson was speaking at the Australia-China Mining and Minerals Industry Dinner, hosted by Business Club Australia.
“The Australian and Chinese governments established the Australia-China Joint Coordination Group on Clean Coal Technology and we are involved in both the Carbon Sequestration Leadership Forum and the Asia-Pacific Partnership to develop low-emission technologies,” Ferguson said.
“Australia is also benefiting from Chinese involvement in projects such as the proposed HRL 400MW Integrated Drying Gasification Cycle power station project in Victoria's Latrobe Valley.
“The Australian government is contributing $500 million to support further development and demonstration of low-emission coal technologies, $20 million of which will support work with China, and this will build on existing projects such as the pilot post-combustion capture project at Gaobeidian power station.”
He added the relationship would be further enhanced at the upcoming Australia-China Climate Change Ministerial Dialogue to be held in Canberra later this year.
China’s investment in Australia currently sits at $6.2 billion and is growing, with applications for the 2007-08 financial year totalling $25 billion.
“With such massive investment on the drawing board, the next 10 years are certain to produce an even closer trade and business relationship between our two countries," Ferguson said.
