Top economists have suggested Australia is about to see its next mining boom with Australian mineral exports tipped to hit a record high.
Commodities like iron ore, lithium, nickel and copper are forecast to increase in demand internationally. But there are also some new players on the scene. From ‘rare earth elements’ to ‘tech metals’, here is everything you need to know about Australia’s next mining boom and how to get ready for it.
1) It’s All About Renewable Energy
Australia’s commitment to net zero emissions by 2050 means despite being a major coal exporter to China, Aussie mining companies producing lithium, cobalt and nickel will see an increase in international demand. Worldwide energy shortages also mean particular minerals, like Titanium used for solar panels and solar cells, will be essential for the growing needs of renewable energy. And Australia happens to be the number one producer of Titanium in the world.
2) It Will Be Driven By Tech Metals
Ever heard of rare earth elements? Neither had we, but they used to make up tech metals which are an essential part of making high tech like iPhones, autonomous cars and renewable batteries. Rare earth elements used to be predominantly mined and exported from China. However, Australia has entered the game with the world’s sixth-largest reserve of rare earths– mostly untapped.
3) If You’re Prepared, It Will Help You Bounce Out of COVID
The next five to ten years are looking good for the Australian economy. And at STG Global we are ready to set you up for success to confidently make the most out of the mining boom. We have grown our inventory to deliver you world-class Australian trucks with shorter lead times. We’ve even opened up more locations across Australia and are widening our distribution network and the number of dealerships.