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30 August 2023
South Australia is placing a spotlight on copper, officially recognising its vital role in the global shift towards decarbonisation. The state has recently announced that copper will be featured prominently in its forthcoming Critical Minerals Strategy.
“Copper has always played a significant role in the South Australian landscape, but it’s time we underscore its importance in our strategic planning,” mentioned Tom Koutsantonis, South Australian Minister for Energy and Mining. “As we craft our critical minerals strategy, we’re eager to ensure that the voice of industry stakeholders is heard and considered. Moreover, we remain steadfast in pushing for copper’s inclusion in the national critical minerals tally.”
International recognition of copper’s crucial role is evident, with major economies like the European Union, Japan, India, China, Canada, and the US already marking it as a critical mineral. This highlights the metal’s rising significance, especially in emerging technological applications.
The South Australian Government’s emphasis on copper isn’t new. Earlier in June, they unveiled a $2 million Copper Taskforce initiative. “Our goal with the Taskforce is to bolster collaboration between copper explorers and producers in the state, mapping out a future where South Australia stands as a paramount figure in global copper production,” the government relayed in an official release.
In line with the growing recognition of copper’s value, mining giants Rio Tinto and BHP have amplified their focus on the mineral. Notably, Rio Tinto acquired a majority stake in Agua de la Falda S.A. from PanAmerican Silver this year. Meanwhile, BHP entered a noteworthy partnership with JX Metals Corporation in July, aiming to make the copper supply chain more eco-friendly.
South Australia remains committed to its advocacy efforts, consistently pushing for copper to secure a spot on the national critical minerals list.