The recent offer by the Queensland Government to provide $1M to support Copper exploration in Queensland is definitely a step in the right direction.
Especially given the looming copper supply shortfall globally predicted by BHP in their latest corporate video (LINK). BHP see lower copper grades, a lack of any major recent copper discoveries and above ground risks in developing countries as major constraints to future supply.
New exploration is urgently needed. Otherwise the predicted demand for copper through the growth in China and Indian cities, renewable energy, electric vehicles and the electrification of energy demand won’t be met.
South Australia is doing its bit with their new Copper Strategy that envisages a growth in production of copper in the State to 1 Million tonnes pa by 2030.
The growth in copper production in Australia yields tremendous benefits to our local and federal economies, but also leads to a reduction in CO2 emissions as Copper is known as the best electrical and thermal conductor in the world . The more we use, the less electricity we waste
So why dos the NSW Govt. insist on spending $2.5B on a couple of new stadiums which will only replace two existing stadiums . Is there an economic Impact Statement for this expenditure? No!
But if they invested $2.5bn in supporting mining in this country, the economic benefits would be huge.
It’s time for Australia to put its money where it creates jobs and opportunity. And not in Stadiums.
Cheers
John