PERTH – A new report by PwC found that despite an increase in Australia’s critical minerals sector, the country’s current pipeline of development projects would fall well short of expected demand surge.
Local resources companies also had to work on attracting investment from a range of capital providers, PwC said, with companies that were clearly able to communicate the merits of a project, including plans for high environmental and social governance performance and outcomes more likely to raise capital.
The Aussie Mine report found that the market capitalisation for critical minerals in the MT50 spiked 32% to A$70.3-billion at the end of June and an additional 34% to A$89.4-billion as at September, significantly overshadowing gold, which stood at A$27.1-billion, iron-ore, which stood at A$4.4-billion, and coal, which stood at A$18.9-billion.
“To fully reap the rewards, Australian miners must ditch the historic ‘dig and ship’ mentality and move further down the supply chain,” Upcroft said. The 'Aussie Mine' report notes that 50% of global lithium production is currently Australian-sourced. By moving down the supply chain to produce materials such as battery-grade lithium hydroxide, Australia can position itself as a genuine player in battery production.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »