thanks for joining me here at kalkine media australia is a mineral-rich country with mining
operations across all states the australian mining industry is advanced and contributes around 10 of
the total gross domestic product also the mining industry offers direct employment opportunities
to nearly a quarter of a million people australian companies mine and ship raw materials including
battery metals to several economies worldwide one of the hottest commodities these days is
lithium due to its surging demand from the battery market in 2020 australia accounted for 49 of the
total global output of lithium however there has been little development in the downstream sector
of the industry currently 100 of lithium-ion batteries are imported from overseas why does
australia need a local battery supply chain market experts say that australia could supercharge its
economy by building a local battery supply chain australia has exciting growth opportunities
provided it builds a battery value chain from mining to processing active battery minerals
eventually manufacturing its own batteries to cater to rising ev demand so let's take a look
at the government initiatives to tap the lucrative potential in the first quarter of 2022 australian
pm scott morrison announced financial aid for four manufacturing projects in the critical mineral
sector the australian 243.6 million government aid will boost the domestic value chain of critical
metals batteries and electric vehicles of the total nearly 90.8 million dollars is planned
to be directed towards three projects related to battery energy storage last year australian
government rolled out the federal government's tech investment roadmap as part of its 1.5 billion
modern manufacturing strategy the strategy aims to leverage the country's mineral and resources
sector to establish australia as a global leader in the transition to renewable energy storage
is a significant component of that transformation australian energy market operator recognizes it as
a critical enabler of cost-effective and reliable low-emission electricity in its 2020 integrated
system plan the australian energy market operator estimates that up to 19 gigawatts of new
dispatchable resources including battery storage will be required to support renewable energy
in the national electricity market until 2040. the ministry for industry science and
technology has also laid out a new roadmap for a 10-year vision for developing sophisticated
manufacturing capability in australia's resource sector it demonstrates how businesses can benefit
from australia's access to key resources the government's modern manufacturing initiative
aims to assist enterprises in scaling up production commercializing products and
tapping into global supply networks recently the australian government granted major project status
to a 560 million dollar cobalt project in the new south wales region the project will produce 16
700 tonnes of cobalt sulfate annually for the lye ion battery industry all these government
initiatives will help unlock investment from the industry enabling australia's resources
sector to increase manufacturing competence and competitiveness while capitalizing on a
substantial global growth sector the initiatives are expected to draw massive investment in the
battery value chain creation in the country the vertical integration will benefit the national
escher queer significantly as the margin on the finished products is significantly higher
with respect to rural materials and that is the latest here at kalkine media for more info you
can check out the website kalkinemedia.com and that's it for now i'm rose jacobs have a great day