{"id":80285,"date":"2023-10-26T01:00:01","date_gmt":"2023-10-26T01:00:01","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/australia-doubles-its-mining-investments-to-support-renewables-expansion\/"},"modified":"2023-10-26T01:00:01","modified_gmt":"2023-10-26T01:00:01","slug":"australia-doubles-its-mining-investments-to-support-renewables-expansion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/australia-doubles-its-mining-investments-to-support-renewables-expansion\/","title":{"rendered":"Australia doubles its mining investments to support renewables expansion"},"content":{"rendered":"<p><strong>Australia announces AUD 2 bn expansion in mining: <\/strong>Australia\u2019s Prime Minister Anthony Albanese said his country will channel an additional AUD 2 bn (USD 1.3 bn) toward investments for its mining sector in a bid to secure rare earths needed for its transition to green energy and sustainable mobility, according to a <a href=\"https:\/\/www.pm.gov.au\/media\/2-billion-critical-minerals-boost-crucial-energy-transition\">statement<\/a>. The new financing program \u2014 disbursed in the form of low-interest loans for miners and processors of critical minerals \u2014 is aimed at attracting US-based mining firms to tap into the country\u2019s \u201cvast\u201d mineral deposits, and would help minimize dependency on China in the green energy transition, <a href=\"https:\/\/www.abc.net.au\/news\/2023-10-25\/anthony-albanese-washington-dc-critical-minerals-funding\/103017910\">ABC<\/a> notes.<\/p>\n<p><strong>Taking on China:<\/strong> China <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/30510af0-1c53-4643-bf9f-0460dc712e29\">now processes<\/a> more than 70% of the world\u2019s graphite, and refines more than 90% of the mineral into the material used in EV battery anodes. Along with graphite, China processes more than half the world\u2019s lithium, about two-thirds of its cobalt, and about one-third of the global supply of nickel, and has begun <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2c3501bf-7638-42d0-b1a7-abab38c7bab1\">enforcing export restrictions<\/a> on rare earths including graphite. The US began talks with the EU on a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f6479cae-8088-4aa8-92dd-8f4d017ec88d\">transatlantic bargain<\/a> on minerals back in March in a bid to counter Chinese dominance in the mining and EV sectors.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>New York is getting some offshore wind action:<\/strong> New York awarded contracts for three offshore wind farms as it shoots for its target of generating <a href=\"https:\/\/www.governor.ny.gov\/news\/governor-hochul-announces-nations-largest-ever-state-investment-renewable-energy-moving#:~:text=A%20cornerstone%20of%20this%20transition,%241%20billion%20for%20clean%20transportation\">9 GW<\/a> of wind power by 2035. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-24\/new-york-awards-contracts-for-three-offshore-wind-projects?srnd=green#xj4y7vzkg\">Bloomberg<\/a>)<\/li>\n<li><strong>Ireland can start SAF production <\/strong><strong>by the end of the decade:<\/strong> Ireland will be able to produce sustainable aviation fuel (SAF) using offshore wind power from 2030 and has the most likely chance to produce synthetic e-fuels or eSAFs, made with captured carbon and green hydrogen. (<a href=\"https:\/\/www.reuters.com\/sustainability\/cop\/ireland-could-start-producing-sustainable-jet-fuel-2030-study-2023-10-25\/#:~:text=Ireland%20could%20start%20producing%20sustainable%20jet%20fuel%20from%202030%20%2D%20study,-By%20Padraic%20Halpin&text=DUBLIN%2C%20Oct%2025%20(Reuters),a%20study%20showed%20on%20Wednesday.\">Reuters<\/a>)<\/li>\n<li><strong>Brazil\u2019s food sector contributes three-quarters of its emissions: <\/strong>74% of the total greenhouse gas output of Brazil in 2021 was attributable to its food production sector. Of the 1.8 bn tons of CO2 emitted that year, 78% were attributable to the beef production industry. Brazil is the world\u2019s <a href=\"https:\/\/www.embrapa.br\/en\/busca-de-noticias\/-\/noticia\/62619259\/brazil-is-the-worlds-fourth-largest-grain-producer-and-top-beef-exporter-study-shows\">top exporter<\/a> of beef and the fourth largest grain supplier. (<a href=\"https:\/\/www.reuters.com\/sustainability\/cop\/brazil-food-sector-accounts-74-emissions-study-2023-10-24\/\">Reuters<\/a>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Australia announces AUD 2 bn expansion in mining: Australia\u2019s Prime Minister Anthony Albanese said his country will channel an additional AUD 2 bn (USD 1.3 bn) toward investments for its mining sector in a bid to secure rare earths needed for its transition to green energy and sustainable mobility, according to a statement. The new [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":80286,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,327,11,196],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-80285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-australia","tag-enterpriseclimate","tag-mining","wpautop","entry"],"acf":{"mongo_id":"1f0f1f09-d849-4736-b522-a70d7cc2c74f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/1638.jpg","photo_position":"above","related_issue":[80269],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Australia doubles its mining investments to support renewables expansion - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/26\/australia-doubles-its-mining-investments-to-support-renewables-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australia doubles its mining investments to support renewables expansion\" \/>\n<meta property=\"og:description\" content=\"Australia announces AUD 2 bn expansion in mining: Australia\u2019s Prime Minister Anthony Albanese said his country will channel an additional AUD 2 bn (USD 1.3 bn) toward investments for its mining sector in a bid to secure rare earths needed for its transition to green energy and sustainable mobility, according to a statement. 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