CLYDE RUSSELL: Investors must be persuaded to put money into mining

Mining is probably the most vital sector for the global energy transition and the success of the much-vaunted net-zero carbon emissions by 2050 targets, but it is the laggard in the process.

The challenges do seem pressing, given the vast quantities of copper, lithium, cobalt, nickel, zinc, manganese and graphite that will be required, and the limited plans to develop new mines to produce the metals needed. Once investors are convinced, the battle is to get them to put capital into new mines that will take several years to return a profit.There are many development and environmental approvals to be secured, and local communities to be consulted and won over, and then transport and logistical issues to be overcome.

Investing in a shiny new Tesla motor car or a household battery wall unit looks far more attractive than a copper mine in Zambia or Indonesia. Governments will have to speed up permitting and environmental approvals, and those with an interest in meeting the net-zero by 2050 will have to overcome their distaste for mining.

Taking graphite as an example, Pengilly said the current global market for the battery anode component was about a million tonnes a year, of which China controlled about 650,000 tonnes.

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