The emergence of the next mining boom presents an incredible opportunity for Australia. An opportunity to generate immense prosperity and security for our nation that will benefit generations of Australians. An opportunity to not only lead the world through the transition to net zero economies, but secure a long-lasting economic dividend in the process. To see Australia develop into a clean energy superpower.
Because once again we find ourselves in an advantageous position — the world needs what we have in abundance. To achieve net zero, the world will require astronomical volumes of minerals and metals. By 2030 alone, 50 new lithium mines, 60 new nickel mines and 17 new cobalt mines will be needed to meet demand for electricity storage.
By 2035, today’s global copper supply requires a near doubling to meet insatiable demands for EVs, charging infrastructure, solar panels, wind turbines and batteries. Over the next two decades alone, the International Monetary Fund estimates the market for low-emissions technologies, renewables and componentry will be worth a staggering $17.6 trillion.
Our natural endowment of critical minerals means Australia can secure the biggest chunk of that opportunity, and there is no State or Territory that understands that potential more than WA. But here, through the WA Government’s Strategic Industrial Areas, it’s not only about getting the critical minerals out of the ground, it’s about bolting on processing, refining, manufacturing and infrastructure, to ensure we not only maximise value, but stay competitive with other nations.
For the rest of this column: https://thewest.com.au/opinion/tania-constable-australias-new-mining-boom-is-not-our-birthright-c-10237056