Can Australian mining produce the materials necessary to power the rEVolution and also generate enough export income for the country?
Also, what is in the back of my mind is that Australians have a relatively high standard of living partly funded by our exports of fossil fuels. We have done very well out of the Russian invasion of Ukraine as far as exports of coal and gas are concerned, and we are set to get high prices for our wheat exports as well. Sad, but true.
Australia is one of the top five exporters of copper, after Chile, Peru, and Indonesia and Kazakhstan . By 2028, copper prices are projected to grow as demand from the energy transition outweighs future production growth. Australian mined production of copper is projected to grow at an average rate of 3.0% over the next 5 years, reaching 927,000 tonnes in 2027–28. One mine alone, Oz Minerals’ West Musgrave project, is expected to add around 41,000 tonnes of copper capacity per year. “While there is a projected fall in Australian output in 2027–28, there are several large projects with a completed definitive feasibility study that could come online near the end of the outlook period.
Eight percent of new nickel production is expected to come from Indonesia. “Indonesia’s nickel reserves are exclusively laterite ores, which present technical challenges in refining to battery grade nickel. This increases the energy required and waste material generated from refining; extracting nickel from Indonesian laterites produces about twice the level of waste tailings) relative to comparable sulphide nickel mines in Australia.
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