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Building a robust future for Australia with the critical minerals in our own backyard

The heightened demand for critical minerals has pushed up the price of raw materials, potentially reversing the progress of clean energy technologies. The acute supply shortage has major implications on the financing needs across the world.

Building a robust future for Australia with the critical minerals in our own backyard

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Global management consultancy, Partners in Performance, believes however, that Australia could play a key role in stabilising the global markets and supply chain for these critical minerals.

Australia clinched the top spot globally for mining investment with its attractive policy and mineral potential. The Fraser Institute’s 2021 Investment Attractiveness Index has revealed that Western Australia has come in first place (from being fourth in 2020), while South Australia is ranked in the top ten globally.

While the Federal Government referred to investments in micro-grids in the recent federal budget, and the opposition promised to invest in renewable energy in its reply, neither major party has recognised the opportunity Australia has to become a leading global copper producer vital to supporting a renewable energy future, says the Australian headquartered management consultancy.

According to Michael Huggins, Director and Head of Australia and New Zealand at Partners in Performance: “Australia can attest to sourcing for minerals in environmentally and socially responsible ways with its strong and efficient regulatory environment. Workers involved in the sector are also protected. This sets Australia apart from its competitors that may operate at a lower cost, but at the expense of the environment or its workforce.” The Government reiterates this by working closely with states and territories in developing a national ethical certification scheme for critical minerals.

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Source: https://www.ecovoice.com.au/