PERTH (miningweekly.com) – Australian miners have the ability to build on an existing trade partnership with Japan to supply critical materials to meet Japan’s current energy needs and develop the technologies of the future, including hydrogen with carbon capture and storage.
In its submission to the Department of Foreign Affairs and Trade on the General Review of the Japan-Australia Economic Partnership Agreement (JAEPA), the Minerals Council of Australia (MCA) outlined the potential to build on Australia’s trade and investment relationship with Japan, one of its closest partnerships.
The submission notes areas where JAEPA could benefit both countries by supporting common priorities, including boosting diversification of trade, building resilient energy supply chains that support Japan’s energy security, supporting Japan’s technology-led decarbonisation and green growth goals, and supporting a free and open trade environment, free from coercion.
“For more than 50 years, Japanese investment in Australia’s mining industry has laid the foundations for prosperity, bringing to life regional centres, opening up the Pilbara region in Western Australia, the Bowen basin in Queensland and the Hunter Valley in New South Wales,” said MCA CEO Tania Constable.
“Now, Australian mining has the ability to build on this important partnership through continuing to reliably supply critical materials to meet Japan’s current energy needs and developing the technologies of the future, including hydrogen with carbon capture and storage.
“The sound and strong relationship between Australia and Japan, including trade in mineral and energy resources to Japan, is a story of success built on mutual trust, pioneering investment and collaboration to solve common problems,” Constable said.
“Just as Australian mining has supported Japan’s growth and energy security, it can now support Japan’s move to a decarbonised future. Decarbonisation will require a lot of copper, cobalt, lithium and other critical minerals and a renewed focus on the JAEPA will support this ambition.”
The MCA noted that Australia’s commodity trade with Japan is just one example of how Australian mining is helping to sustain and improve the lives of millions around the world while providing the critical raw materials necessary for modern and emerging economies to flourish in a decarbonised future.
The Australian and Japanese governments earlier this year committed to collaborate on and coordinate efforts to achieve decarbonisation and a net zero emissions future.
The two countries committed to jointly supporting initiatives that will help drive the transitions to net zero emissions, increasing the joint focus on lower-emissions liquefied natural gas (LNG) production, transport and use; clean fuel ammonia, clean hydrogen and derivatives produced from renewable energy or from fossil fuels with substantial carbon capture, utilisation and storage; carbon capture utilisation and storage; carbon recycling; and low emissions steel and iron-ore.
In support of this shared objective, Japan and Australia will provide financial support, as appropriate, to advance initiatives that will contribute to the development and deployment of low and zero emissions technologies. Australia and Japan also commit to collaborate on the development of initiatives that leverage funding from other sources, including subnational governments and the private sector.