The 2024 Critical Minerals and Energy Investment Conference and Exhibition, just held in Perth, showcased Australia's potential as a global leader in critical minerals.
With the world's growing demand for renewable energy technologies, Australia's rich reserves of critical minerals like lithium, cobalt, and rare earths are attracting significant investment.
The conference highlighted over 55 investment-ready critical minerals projects across Australia, with a combined capital investment value of approximately $7.6 billion.
These projects are expected to generate around 4,600 jobs during construction and 2,700 ongoing jobs.
The NSW Government's new Critical Minerals and High-Tech Metals Strategy, including a $250 million royalty deferral initiative, aims to ease financial pressures and attract more investment.
Australia's critical minerals sector is poised to play a vital role in the global clean energy transition.
The International Energy Agency estimates that the world will need six times the amount of critical minerals currently mined to reach global net-zero carbon emissions.
This transition will require double today's copper production, triple rare earth elements and cobalt production, and thirty times more nickel — minerals abundant in Australia.
Australia produces around half the world's lithium and is the second-largest producer of cobalt.
The critical minerals market is expected to grow significantly, despite recent price volatility.
The NSW Government's strategy focuses on five key pillars: responsible mining, economic prosperity, community engagement, supply chain security, and advanced manufacturing.
Australia's critical minerals sector is not just about extraction; it's about moving further down the supply chain and supporting domestic manufacturing.
The conference emphasised the importance of sustainable supply chains and the role of critical minerals in driving economic growth and job creation.
With the right investments and strategies, Australia can secure its position as a critical minerals powerhouse, contributing to global energy security and economic prosperity.
The conference is on again between February 24-25, 2025 in Brisbane.