{"id":81091,"date":"2022-11-23T06:41:09","date_gmt":"2022-11-23T06:41:09","guid":{"rendered":"https:\/\/globalroadtechnology.com\/\/?p=81091"},"modified":"2023-06-23T05:58:42","modified_gmt":"2023-06-23T05:58:42","slug":"demand-booms-for-australias-critical-minerals","status":"publish","type":"post","link":"https:\/\/globalroadtechnology.com\/demand-booms-for-australias-critical-minerals\/","title":{"rendered":"Demand Booms for Australia\u2019s Critical Minerals"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Australia\u2019s mining industry is in the box seat to benefit from the booming demand for critical minerals. <\/span><span style=\"font-weight: 400;\">Driven by the push towards Net Zero and Electric vehicle (EV) battery technology, critical minerals now represent the fastest-growing sector in Aussie mining. <\/span><span style=\"font-weight: 400;\">The projected flow of nationwide economic benefits includes new downstream industries, jobs, and skills while helping <a href=\"https:\/\/globalroadtechnology.com\/\/decarbonization-in-mining\/\">decarbonize<\/a> the global economy. <\/span><span style=\"font-weight: 400;\">As the worldwide energy system transitions to renewables, companies, and countries looking to reduce greenhouse gas emissions (GHG) and adopt clean energy technologies will turn to Australia for a range of critical minerals.<\/span><\/p>\n<p><b>The most prominent include:\u00a0<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Copper<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lithium<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Nickel<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cobalt<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rare earth minerals<\/span><\/li>\n<\/ul>\n<h2><strong>Opportunities for growth in Critical Minerals<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Australia&#8217;s expansion opportunity is massive as a world leader in critical mineral exports. <\/span><span style=\"font-weight: 400;\">Currently supporting many countries with high-quality, ethically-sourced minerals, we rank highly on the world export stage for:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Critical minerals like antimony, cobalt, <a href=\"https:\/\/globalroadtechnology.com\/\/lithium-mining-western-australia\/\">lithium<\/a>, manganese ore, niobium, tungsten, and vanadium<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lithium production, rutile zircon, and rare earth elements<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">With significant potential for more undiscovered minerals<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Critical mineral miners are now the largest group within Australia\u2019s Mid-Tier 50 (MT50) mining companies and represent over half the group&#8217;s value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The market capitalisation of the MT50 increased by 17% to $124 billion (as of 30 June 2022) and an additional 20% to $150 billion by 30 September 2022.\u00a0<\/span><span style=\"font-weight: 400;\">This change highlights the significant long-term opportunities in critical minerals.<\/span><\/p>\n<h2><strong>Demand for future-focused minerals to soar<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The fast acceleration of renewable energies globally indicates significant demand for critical minerals in the approaching decades.\u00a0<\/span><\/p>\n<p><b>\u2018Demand for EV batteries will increase from about 340 GWh today to over 3,500 GWh by 2030.\u2019<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The World Bank states that the production of critical minerals could increase by up to 500% by 2050 to meet the growing need for clean energy technologies.\u00a0<\/span><\/p>\n<p><b>Primary drivers of demand will be:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rate and sales of EVs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">With steep EV market penetration expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Renewable energy infrastructure demand<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Including solar and wind turbines<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Battery storage developments<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Wide-ranging electrification<\/span><\/li>\n<\/ul>\n<h2><strong>Australian government to support Critical Minerals.<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The Australian Government has committed up to $250 million in loans to expand Pilbara Minerals Limited\u2019s Pilgangoora Operations in Western Australia.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The loans will be used to develop the company\u2019s mining and processing operations in WA&#8217;s Pilbara.<\/span><\/p>\n<p><b>\u201cThe global path to net zero runs through the Australian resources sector, and producing battery materials is vital for a lower carbon economy,\u201d<\/b><\/p>\n<p><span style=\"font-weight: 400;\">A region producing lithium-containing spodumene and tantalite concentrate exported from Port Hedland.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These are critical battery materials; used mainly in the manufacture of lithium batteries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And add to Australia\u2019s place as a globally trusted supplier of critical minerals and support the world\u2019s transition from non-renewable energy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The project is estimated to create 355 jobs each year in the first two years of construction and an additional 320 jobs during operation.<\/span><\/p>\n<h2><strong>In Summary<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Australia&#8217;s reputation as a global leader in mining and our abundance of natural resources puts us in a unique position.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As global megatrends like decarbonisation and electrification take hold, miners will look to boost critical mineral production, meeting demand while maintaining high ESG standards.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While a tremendous opportunity for Australian producers, there will be significant challenges along the way that will need to be managed effectively, including;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A significant increase in carbon emissions from mining and processing activities<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Environmental impacts include biodiversity loss, water depletion, waste-related contamination, and air pollution<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Social impacts from corruption and misuse of government resources, fatalities and injuries to workers and members of the public, alongside human rights issues, including child labour<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If companies can overcome these issues, the potential of Australia\u2019s critical minerals industry will be unparalleled.<\/span><\/p>\n<p><b>Your feedback is important to us.\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">If you enjoyed reading this Global Road Technology industry update and found it informative, please let us know by leaving a REVIEW.<\/span><\/p>\n<p><strong>References:<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">https:\/\/www.minister.industry.gov.au\/ministers\/king\/media-releases\/australian-government-boosts-critical-minerals-production-pilbara<\/span><\/p>\n<p><span style=\"font-weight: 400;\">https:\/\/www.livewiremarkets.com\/wires\/australia-s-next-mining-boom-the-role-of-critical-minerals-in-renewable-energy<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australia\u2019s mining industry is in the box seat to benefit from the booming demand for critical minerals. Driven by the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":81092,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[115],"tags":[],"class_list":["post-81091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-articles"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Demand Booms for Australia\u2019s Critical Minerals | GRT<\/title>\n<meta name=\"description\" content=\"Driven by the push towards EV battery technology, critical minerals now represent the fastest-growing sector in Aussie mining.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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