Put simply – building permanent surface infrastructure on land to generate renewable electricity, be it wind, solar or hydro, can sterilise that land for future economic development.
Access is vital for critical minerals needed to decarbonise our economy Warren Pearce, Chief Executive Officer Association of Mining and Exploration Companies
T
here is an endless stream of debate and discussion about the topic of land access across the country.
staggering $1.069 billion, second only to $1.099 billion in September 2022 - high points in what has been two pretty good years for exploration in Australia.
With an abundance of land, competing interests and critical resources the envy of the world, it’s little wonder that Australia is often referred to as the lucky country. However, as we look to grow our position as one of the world’s most important critical mineral suppliers, new challenges are emerging that threaten this opportunity.
This record-breaking effort has delivered considerable discovery and exploration success across the country. As a result, many AMEC member companies are advancing projects and heading into their ‘development window’.
Perhaps ironically, this new challenge is coming from renewable energy technologies, built from the critical minerals we need to mine. More on that further in this article. Exploration spend at an all-time high To provide some context, Australian mineral exploration expenditure has scarcely been higher, with the 2023 June quarter (ABS data) recording a 28
BBMC Yearbook 2023
In Queensland, exploration spend is similarly high, with $147.8 million in the 2023 June quarter, with a 60/40 split between minerals and coal.
Nationally, copper was the prime mover, recording a record-high $176 million in expenditure, with $44.8 million of this recorded in Queensland. This is off the back of record expenditure in both NSW and South Australia, up 15% and 33% respectively. While these results are promising, the announcement in October by Glencore to close their Mount Isa Mines underground copper operations and copper concentrator by 2025 served as a reminder to Government and industry
not to take things for granted. We can’t just expect things to continue trending in the right direction without the appropriate support from authorities. The Glencore announcement serves as a wake-up call to ensure the Queensland State Government does everything in its power to support current projects, help with expansion opportunities and develop new projects. With the right support, there is a wide range of explorers, project developers and producers in this area that can help fill the mineral and employment gaps left by the Glencore announcement. So, now is the time to turn the talk about being a smarter and faster place to do business, into reality. In a positive sign, the significant policy and funding commitments already in place to develop the North West Region shows that the Government is motivated to develop minerals vital for our energy transition. And herein lies the irony I referred to earlier. What underscores these remarkable results is the global appetite to find and mine critical minerals.
