New mineral mining boom could create 25,000 jobs in Queensland

Global demand for nickel, cobalt and other precious commodities is set to surge, and it could create thousands of jobs in Queensland.

More than 38,000 jobs could be created in Queensland in a new mineral mining boom, with global demand for nickel and cobalt and other precious commodities projected to skyrocket over coming years.

Research commissioned by The Courier Mail shows that Queensland could produce 10,985 direct jobs and 27,462 indirect jobs in critical minerals, plus an additional 16,710 jobs in electric mining equipment.

The analysis, conducted by research group Beyond Zero Emissions, also shows that NSW could create 7,292 jobs in critical minerals and 18,230 in electric mining equipment, South Australia could create 23,348 jobs in critical minerals and 6,107 in electric mining equipment, and WA could create 24,279 and 9,447 respectively.

More than 38,000 jobs could be created in Queensland in a new mineral mining boom. Picture: Supplied

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.”

A key example in Queensland is the Sconi Project in Greenvale, north west of Townsville, operated by Australian Mines.

The company, the first mineral resources company in the world to be certified as Carbon Neutral by the federal government, says that from 2024 it will be delivering the most sustainably produced nickel and cobalt.

The project will create significant social and economic benefits and is expected to create approximately 800 jobs and inject $2.2 billion into the regional economy.

“Sconi is a cobalt, nickel, scandium project with a lifespan in excess of 30 years, and that makes it ideally positioned to meet surging global demand for critical minerals that will help decarbonise the planet and deliver secure jobs and prosperity to Northern Queensland and the wider Australian economy for many years, if not decades,” Australian Mines CEO Benjamin Bell told The Courier Mail.

“It is clear the surge in demand for critical minerals will continue for many years and likely decades, as the world transitions to an electric future. The Sconi project, through its multi-year offtake agreement for cobalt and nickel, is set to play an important role in the global drive towards net zero emissions and in delivering jobs and economic benefits right here in Australia.”

The Sconi project west of Townsville.

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 Queensland 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 Queensland. This would increase the efficiency and sustainability of Australia’s high-value mining sector and create good quality mining manufacturing jobs.”

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Originally published as New mineral mining boom could create 25,000 jobs in Queensland