According to a report commissioned by the Minerals Council of Australia (MCA), Australian resources are expected to increase in exports for the next decade.
The report outlined the prospects for resources such as minerals (copper, aluminium, zinc), metallurgical coal, iron ore and more.
MCA chief executive officer Tania Constable said the report found Australia placed very positively going forward.
“Australia’s world-leading minerals industry is in a strong position for future success by meeting growing global demand for commodities to power growth, energy generation and decarbonisation,” Constable said.
The report wasn’t solely focused on critical future minerals such as copper, aluminium and zinc, but was also focused on iron ore and metallurgical coal with an expected increase of both growing the Australian economy.
This is largely due to the increase in the population leading to more building and infrastructure making a demand for steel (which is made with iron ore and metallurgical coal) as well as copper and zinc being required for the transport industry, industrial growth such as factories and an increase in demand for housing.
However elements such as lithium, aluminium and copper are expected to be our biggest expansion over the next decade, with lithium expected to increase by over 300% (due to renewal energy demands), aluminium to increase nearly 50% and copper around 75%, bringing riches for the resources sector in Australia and in turn for people working directly and indirectly for the industry.
This is positive news for the mining sector and shows that there is no slowing down of work in the industry.