Copper to be Featured as a Key Mineral in Its Decarbonisation Efforts
South Australia is placing a spotlight on copper, officially recognising its vital…
20 May 2022
Despite aiming to achieve net zero by 2050, the New South Wales Government has approved coalmine extensions and expansions.
Coal prices reached record highs of more than $535 per tonne last month and demand for the state’s fossil fuel resources from overseas has doubled over the past decade.
In the past year, a modification to extend one coal mine has been approved, while two others were granted extensions.
Climate Energy Finance, a private advisory consultancy, said an orderly retreat from the industry was needed. The Director, Tim Buckley, said that NSW was reaping the financial benefits, while trying to appear environmentally conscious.
The NSW Government has been called out for being hypocrites. “The first thing you do when you’re in a hole is stop digging.”
The incentive is that Global demand remains high, particularly from India, Thailand, Korea, and the largest importer, Japan.