Photo by: Bloomberg
PERTH (miningweekly.com) – Potential investors in Australia’s critical minerals sector have been handed an investment opportunities document, compiled by the Association of Mining and Exploration Companies (Amec) identifying numerous projects exploring, developing and producing critical minerals across the country.
“The opportunity to invest in Australia’s critical minerals sector is tremendous,” said Amec CEO Warren Pearce on Friday.
“Governments have recognised the importance of critical minerals, and the significant opportunities for Australian companies to develop these critical minerals at all stages of the supply chain.
“Australia’s critical minerals opportunities are second to none. The demand for critical minerals, particularly lithium and other battery minerals, has grown exponentially and the demand globally continues to boom. We have a strong worldwide reputation as a substantial producer of most minerals, and Australia consistently ranks in the top five jurisdictions considered in the international Fraser Institute Survey.
“This high ranking reflects that Australia’s minerals attractiveness is not solely based on rich and diverse geology, but a combination of advanced mining and exploration technologies, a skilled workforce, favourable geographic positioning, and low sovereign risk,” Pearce said.
Federal Resources, Water, and Northern Australia Minister Keith Pitt pointed out that Australia is already the largest producer of lithium in the world, the largest rare earths producer outside China, and the third largest producer of cobalt.
“We also have some of the largest resources of other critical minerals, including manganese, tantalum, titanium, tungsten, vanadium and zirconium. This resource endowment, coupled with our mining capability and existing infrastructure means that, with the right supporting framework, we are well placed to provide a secure, ethical and sustainable supply of critical minerals to the world,” the Minister said.
The prospectus compiled by Amec provides an informative investment guide to numerous critical mineral projects that are exploring, developing and producing throughout Australia.
“This document highlights and identifies Australia’s outstanding critical minerals potential and will hopefully encourage investment into our nation’s minerals exploration and mining sector,” Pearce said.
“Through quick action from industry and government, the majority of Australian mining operations were able to continue during the onset of the Covid-19 pandemic, and as we slowly emerge from this crisis, the opportunities to discover and develop the mines of the future are a fantastic investment opportunity.”
Nearly half of the 42 companies profiled are based in Western Australia including Australian Vanadium, Chalice Gold Mines, Independence Group, Mineral Commodities, Neometals, RareX, Pilbara Minerals, Tungsten Mining and Venturex Resources.
Western Australian Mines and Petroleum Minister Bill Johnston noted that demand for critical minerals, particularly battery minerals, has grown exponentially and this is expected to continue to increase in the next decade.
It has been reported that the global lithium value chain is expected to grow from A$165-billion to A$2-trillion by 2025.
“Western Australia is well-equipped to meet the global demand for critical minerals. Western Australia is the best location to meet the demands for the ethical and sustainable production of critical minerals,” Johnston said on Friday.
"Our state already has all the minerals you need to make batteries and it was recently confirmed that building a battery cathode manufacturing hub in Western Australia is feasible.
"The government is supportive of Western Australia's mining industry, particularly developing projects that create Western Australian jobs and diversify our economy."