The mining oligarchs (Rinehart, Palmer and such) bet big on the conservatives winning power and undoing the energy transition Trump-fashion at the last election, and lost spectacularly. The conservatives are out of power, and it appears to be for a long time, so the chickens are coming home to roost. The government is by no means a radical one (regardless of what some of the more unhinged propaganda from the fossil-funded right says), though as the markets themselves are leaning towards renewables on economic grounds alone, they’re trying to balance this transition with keeping the economy stable. Hence officially promoting the transition and funding decarbonisation of energy whilst still approving coal mines.