Electric cars giant Tesla (NASDAQ: TSLA) said it expects to soon begin buying more than $1 billion a year of Australian lithium, nickel and other critical minerals for its batteries and engines.
Chairman Robyn Denholm said the country has taken important steps towards cleaning its image of polluting commodities exporter and it is poised to become a globally significant supplier of climate change solutions.
“Australia has the minerals to power the renewable energy age throughout the world in the coming years,” Denholm, an Australian, said in a speech during a Minerals Council of Australia event.
“We expect our spend on Australian minerals to increase to more than $1 billion per annum for the next few years,” she said.
Her remarks come as Australia’s minerals sector released its first progress report on climate action, which shows the industry has cut emissions and is on track to reach a 30% annual reduction.
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