Australia’s miners have welcomed the unveiling of the federal government “Critical Minerals Strategy 2023-2030” which has identified that the nation’s world-leading battery and energy metals providers could increase the country’s annual GDP by $133.5 billion by 2040.
The Minerals Council of Australia’s (MCA) chief executive officer, Tania Constable, says the government’s long-awaited documents highlight the significant potential the critical minerals sector offers for the nation’s future as it plays a key role in the global push to reach net zero by 2050.
“Based on current mine sizes, by 2035 at least 384 new mines for graphite, lithium, nickel and cobalt alone are needed to provide the processed materials required to meet demand for electric vehicles,” Ms Constable said.
“By 2027, copper demand for manufacturing electric vehicles is expected to increase by 1.7 million tonnes.”
The federal government noted that Australia is the world’s largest producer of lithium, the third largest producer of cobalt and fourth largest producer of rare earths.
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