{"id":81450,"date":"2023-05-31T02:39:54","date_gmt":"2023-05-31T02:39:54","guid":{"rendered":"https:\/\/globalroadtechnology.com\/\/?p=81450"},"modified":"2023-06-27T23:36:25","modified_gmt":"2023-06-27T23:36:25","slug":"what-does-australias-future-look-like-after-iron-ore-aio","status":"publish","type":"post","link":"https:\/\/globalroadtechnology.com\/what-does-australias-future-look-like-after-iron-ore-aio\/","title":{"rendered":"What Does Australia\u2019s Future Look Like After Iron Ore (AIO)?"},"content":{"rendered":"

The big question among miners is: has Australia\u2019s iron ore supercycle ended? <\/span>The latest data suggests it may have.<\/span><\/p>\n

As China\u2019s real estate boom eases, so too does the nation’s demand for steel and, in turn, iron ore.<\/span><\/p>\n

Much of this product has traditionally come from Western Australia\u2019s Pilbara region.<\/span><\/h3>\n

And major players like BHP and Rio Tinto have kept an eye on Fe’s performance, diversifying their portfolios to minimise reliance on it. <\/span>BHP has a thriving copper business, while Rio has diversified into critical minerals and clean aluminium smelting.<\/span><\/p>\n

However, others like Fortescue and Roy Hill have a harder road to travel.<\/span><\/h3>\n

And both companies pay more to unearth their iron ore from the ground. <\/span>Under the guidance of Andrew Forrest, Fortescue is exploring alternative fuels, mainly hydrogen.<\/span><\/p>\n

While Gina Rinehart\u2019s Roy Hill pursues its own decarbonisation, automation and efficiency metrics. <\/span>Efforts are underway in the Pilbara to move iron ore up the value chain and into precursors for clean steelmaking; however, the days of mammoth export profits could be behind us. <\/span>But rather than spelling doom for Australia\u2019s economy, the decline of Iron Ore could open the door for a shift towards the critical minerals essential for the energy transition.<\/span><\/p>\n

 <\/p>\n

Can EV Technology Drive the Next Australian Mining Boom?<\/strong><\/h2>\n

As the tides shift, miners will look for new minerals alongside new sourcing methods.<\/span><\/p>\n

The rise of Lithium highlights the incredible demand currently developing for rare and battery-orientated minerals. <\/span>And as the world\u2019s largest supplier of Li (with <\/span>over 50%<\/b> alone) and most of the world\u2019s reserves, Lithium is an obvious candidate for Australia\u2019s next mining boom.<\/span><\/p>\n

Rare earths are a wide-ranging and diverse category, and where iron ore was relatively cheap to pull out of the ground, these minerals are more cost-intensive.\u00a0<\/span><\/p>\n

However, demand remains strong:<\/b><\/p>\n