New mineral mining boom could create 80,000 jobs in South Australia

Global demand for copper and other precious commodities is set to surge, and it could create thousands of jobs in South Australia.

More than 80,000 jobs could be created in SA in a new mineral mining boom, with global

demand for copper and other precious commodities projected to skyrocket over coming

years.

Research commissioned by The Advertiser shows that SA could produce 23,348 direct jobs

and 58,370 indirect jobs in critical minerals, plus an additional 6,107 jobs in electric mining

equipment.

The analysis, conducted by research group Beyond Zero Emissions, also shows that NSW

could produce 7,292 direct jobs, plus an additional 21,163 jobs in electric mining equipment,

Queensland could create 10,985 jobs in critical minerals and 16,710 in electric mining

equipment, and WA could create 24,279 and 9,447 respectively.

An underground mine at Prominent Hill. More than 80,000 jobs could be created in SA in a new mineral mining boom. Picture: OZ Minerals

Almost 40 per cent of Australia’s commodity exports are currently fossil fuels — namely

thermal coal, metallurgical coal, crude oil and LNG. However Australia’s top five export

markets — China, Japan, South Korea, the US and the EU — have all set net zero targets

which will ultimately reverse demand.

As a result, demand for critical minerals used to produce things like batteries and solar

panels is projected to boom, with Australia poised to export up to $168 billion worth by

2050.

This would make Australia the leading global supplier of clean commodities.

“Current climate targets of Australia’s key trading partners will wipe $128 billion a year off

Australia’s exports unless we invest in alternatives,” BZE head of policy and research Tom Quinn said.

“Over the next two decades Australia will lose a third of total commodity export revenue

and the jobs that go with them, unless significant policy shifts are made to unlock

investments in new export industries.

“This includes policies that will help reindustrialise the nation and create jobs in the regions

by incentivising more value-added onshore processing of mined resources before export.”

Just two months ago SA miner OZ Minerals announced a $600 million shaft expansion at the

Prominent Hill copper mine which will extend the mine life to 2036 and produce 6 million

tonnes per annum.

The $600 million Wira shaft investment will increase annual copper production rates by 23

per cent at a 20 per cent lower operating cost and reduce emissions intensity by 27 per

cent.

“The Prominent Hill expansion creates an exciting future for the asset by extending the

mine’s life, lowering unit operating costs, increasing annual copper production and enabling

lower emissions,” OZ Minerals’ CEO Andrew Cole told The Advertiser.

“Importantly, investment in the shaft mine expansion not only provides access to areas

previously thought uneconomic it also opens up potential new prospects. Further growth

potential for Prominent Hill is also identified in the exploration update we released,

separate to the shaft mine expansion, that describes promising drilling results from two

targets close to the existing underground infrastructure.”

Mr Quinn said Australia possessed commercial quantities of 16 of the minerals used in solar

panels and 10 of the elements required to build lithium-ion batteries.

“Global production of key minerals, such as graphite, lithium and cobalt, could increase by

over 500 per cent by 2050, to meet the growing demand for clean energy technologies,” he

said.

“Critical minerals present in NSW gives us a chance to move up the supply chain to value

add to the export of raw materials. This would add significant value to the region’s mining

and industrial communities.

“Replacing diesel-powered machines with electric or hydrogen-powered alternatives in

Australia’s minerals mining sector could create an additional 21,163 electric mining

equipment jobs in NSW. This would increase the efficiency and sustainability of Australia’s

high-value mining sector and create good quality mining manufacturing jobs.”

Originally published as New mineral mining boom could create 80,000 jobs in South Australia