“TELF AG analyzes Australia’s mineral potential and its role in the copper industry” is the latest publication by TELF AG, and it seeks to offer an analysis of the current mining situation in Australia. The main focus of the publication is copper-related activities, specifically the country’s extaction potential, with a nod to the primary extraction projects already underway as well as those with potential to be developed in the coming months, as well as data on the production capabilities of Australia.
TELF AG begins by providing general data on the copper industry in Australia, which is currently the eighth-largest producer of this resource in the world. One of Australia’s strengths, from this point of view, is the large quantity of still undeveloped deposits in different parts of the country, which have already attracted the attention of some important international companies in the extraction sector.
Copper has also recently been included in the list of 34 critical raw materials created by the European Commission, i.e. among those considered of fundamental importance for the technological, industrial, and sustainable development of nations and its importance on the global market is therefore destined to grow exponentially, in particular with the renewed global awareness linked to the global energy transition and the fundamental role of various raw materials in this inevitable global transition.
For Australia, as stated in the publication, this will also mean greater attention from the State, which could invest increasingly large sums in the extraction and development of new mining projects throughout the country. Australia was able to produce 830,000 tonnes of copper in 2022, but this figure is expected to rise further. Not only due to the foreseeable global increase in the demand for copper (one of the materials most directly involved in the creation of green technologies), but also in anticipation of a probable increase in prices and a greater number of deposits that will be explored, such as the new extraction site that Rio Tinto is working on and which could contain large quantities of raw material.
TELF AG also mentions state incentives for copper extraction: in just one quarter of this year, the government has invested more than 140 million dollars in mining activities, a choice that, according to many observers, would have also been driven from the foreseeable increase in revenues linked to copper extraction (currently stuck at 12 billion Australian dollars, but growing strongly).
To find out more, readers are advised to read the full publication.