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OPINION: Australia's exports of energy transition metals to top thermal coal

Exports of metals used in the energy transition are forecast to remain above A$40 billion ($26.6 billion) in the fiscal year that started on July 1, according to the latest quarterly report from the Australian government's Department of Industry, Science and Resources.

LAUNCESTON: Australia's exports of new energy metals are expected to rise in value above those of thermal coal, the polluting fuel that has been the mainstay of electricity generation across much of Asia.

Exports of metals used in the energy transition are forecast to remain above A$40 billion ($26.6 billion) in the fiscal year that started on July 1, according to the latest quarterly report from the Australian government's Department of Industry, Science and Resources.

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In contrast, exports of thermal coal are expected to slide to A$38 billion in 2023-24 fiscal year, down from A$64 billion in the prior year, according to the report, released on Monday.

Australia is the world's largest exporter of key battery metal lithium and ranks fourth in exports of copper.

It is also the world's largest producer of bauxite, the key raw material for aluminium, and is the third-largest producer of manganese and the fifth-biggest in nickel.