At the western end of Australia, the next mining boom is taking off. Western Australia is home to the world’s largest mineral resources required for the batteries of electric cars, an industry itself set to explode.
The rise of the electric car is actually good news for the Australian mining industry – especially in Western Australia.
While some quarters lament the loss of jobs in the coal industry because of renewables, the lithium mining industry is experiencing a boom in the western state that could see Australia become world leaders in the manufacturer of electric cars.
Lithium is the core mineral in the batteries of electric cars and Western Australia has vast reserves of it just waiting to be dug up.
The WA Government launched the Future Battery Industry Strategy this year which aims to tap into the minerals required for the manufacture of rechargeable batteries for cars and homes, including lithium, nickel, cobalt, manganese and alumina.
Western Australia is the global leader in lithium production and increased mining could reap Australia big rewards as the world begins to embrace electric car technology.
The strategy is about more than just mining, though. It aims to attract investors and manufacturers to Australia as well as fast-tracking the approvals process for new battery projects in the state.
“These include opportunities through assembly, installation and management of energy storage systems,” the WA government released in a statement.
WA premier Mark McGowan said: “The unprecedented growth of the future battery industry represents a once-in-a-lifetime opportunity for Western Australia.”
This comes as Federal Labor leader Bill Shorten pledged $200 million towards the electric car industry in Australia, if elected, with a target of half of all cars on the road to be electric by 2030.