PERTH (miningweekly.com) – Australia’s mining and downstream processing companies will need to move to a more sustainable footing in order to benefit from the future demand for critical minerals, federal Resources Minister Madeleine King said on Monday.
“We know the road to net zero runs through Australia’s resources sector. But we must do more to help Australians understand that the resources sector provides significant economic benefits to our country, as well as opportunities to share the benefits with First Nations communities and regional communities,” King said in a speech to the World Mining Congress in Brisbane.
“The sector must show that it is looking to reduce and minimise harmful impacts on the environment. Without ongoing efforts to ensure social licence, we, the global mining, minerals and materials communities, will struggle to win investor backing for new projects.
“These efforts are vital to ensure Australia reaps the rewards of being the world’s supplier of resources for the energy transition. The opportunity is immense,” King said. “If we can ramp up mineral production to enable rapid decarbonisation, we could potentially grow the world economy by A$62-trillion by 2070. But this is contingent on having the right investment and policy approaches in place.”
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