CME welcomes aspirations to charge up battery sector
|The Chamber of Minerals and Energy of WA (CME) welcomes the release of the Future Charge: Building Australia’s Battery Industries report as a further validation of the shared aspiration of industry, State and Federal Governments to take advantage of downstream opportunities in the battery value chain.
These aspirations reflect a desire for Australia to capture value in the global demand for lithium-ion batteries that is expected to increase 24-26 per cent annually to 2030.
The report acknowledges that WA is the only state in Australia that has a battery industry development strategy, which has been important in market awareness, investment attraction, and laying the groundwork for further downstream activity. Western Australia has several competitive advantages in the battery space, including endowment of raw materials required for batteries, a world-class mining sector and strong ESG credentials.
The State is already the largest producer of mined lithium, a top-five producer of nickel, rare earths and cobalt, and will also be home to refineries producing highly purified lithium, nickel, and rare earth chemicals much of which comes from the Goldfields-Esperance region..
This position underpins significant value and job creation to 2030. The report estimates Australia’s established market position in raw materials and refined products could deliver $3.7bn of value-add and, support 14,800 jobs to 2030.