Australian resource and energy exports are set for record highs while its pipeline of projects continue to grow ironore coal copper gold lithium LNG gas energy mining
PERTH – Australian resources and energy exports will earn a record A$459-billion in 2022–23, before easing to A$391 billion in 2023–24, new data from the Department of Industry, Science and Resources shows.
“Demand for minerals crucial to new low-emissions technology, such as lithium, copper and nickel, remains strong and is supporting prices,” King said. Australia’s lithium production is forecast to grow from 335 000 t of lithium carbonate equivalent in 2021–22 to 399 000 t in 2022–23 and 470 000 t of lithium carbonate equivalent 2023–24.
Liquefied natural gas earnings are expected to rise to A$90-billion in 2022–23 from A$71-billion last year, driven by a surge in international spot prices. After reaching 83-million tonnes in 2021–22, Australia’s LNG export volumes are forecast to decline then stabilise at around 81-million tonnes in 2024.
Meanwhile, Australian gold mine production in the September quarter 2022 was 5.4% higher year-on-year at 78 t. Production is forecast to increase to 329 t in 2023–24, as new projects and expansions of existing projects come on line, while gold earnings are forecast to rise from A$23-billion in 2021–22 to around A$24-billion in 2023–24, as rising export volumes outweigh lower prices.
Hydrogen projects accounted for an estimated A$266-billion worth of potential investment, lifting the estimated total value of projects in the investment pipeline to a range of A$572-billion to A$705-billion.
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