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INN explores Australia's electric vehicle raw materials landscape and what could be ahead for the country.

With plenty of natural resources and a key geographical location, there's little doubt Australia will play an important role in the global transition to green energy.

The country is a top producer of key raw materials needed for electrification, from lithium to rare earths.

Here the Investing News Network (INN) explores Australia's electric vehicle (EV) raw materials landscape and what could be ahead for the country in a space that keeps evolving at a rapid pace.

Australia's resources to feed the EV and energy storage revolution

Australia is well known for its resource-rich land, with mining taking place all around the country.

"Australia is a politically stable and low-risk jurisdiction which is very familiar with mining," Harry Fisher of CRU Group told INN. "There is a high level of domestic mining expertise, enabling Australia to produce a large number of commodities and be a major producer in numerous different markets."

The mining industry accounts for 75 percent of the country's exports, which vary from coal to iron ore. And despite being a top producer of many commodities, close to 80 percent of the country is yet to be explored.

When looking at demand from the EV and energy storage industries, Australia has a unique opportunity, as it hosts many of the critical minerals needed.

But it's not just about resources — developing secure supply chains for raw materials has become a top priority for global governments, and the push for a green future has put EVs centre stage.

For its part, the Australian government has outlined a strategy "to enable the development of Australia's critical minerals sector, including downstream processing and manufacturing opportunities, by attracting investment, supporting innovation and connecting opportunities with infrastructure."

The plan includes lithium and cobalt, which are essential in cathodes for lithium-ion batteries, and rare earths, which are used in permanent magnets to power EVs.

Lithium in Australia

Although its output has decreased in the last couple of years, Australia is the world's top lithium producer, with exports of the raw material reaching AU$1.1 billion from 2019 to 2020.

"Australia was responsible for about 45 percent of global lithium mine supply in 2020," Fisher said. "There is strong potential for that to increase with expansions in the pipeline."

According to the US Geological Survey, Australia accounted for 40,000 metric tons of lithium in 2020, and holds over 4.7 million metric tons of identified lithium reserves.

Most lithium found in the country is in hard-rock, pegmatite-hosted resources, which are largely located in Western Australia, with most of the country's lithium supply being exported to China as spodumene.

Notably, the country is home to Greenbushes, the world's biggest lithium mine. It is operated by Talison Lithium, owned by Albemarle (NYSE:ALB) and joint venture partners Tianqi (SZSE:002466) and IGO (ASX:IGO).

Aside from Greenbushes, major Australian operations include Pilbara Minerals' (ASX:PLS,OTC Pink:PILBF), Pilgangoora tantalum-lithium mine, as well as Mineral Resources' (ASX:MIN) Mount Marion, which it is developing with Ganfeng (OTC Pink:GNENF,SZSE:002460), and Wodgina, which it holds in a joint venture with Albemarle. There is also Mount Cattlin, which is being developed by soon-to-be named Allkem &horbar the proposed company brand for the merger of Galaxy Resources (ASX:GXY) and Orocobre (ASX:ORE,OTC Pink:OROCF).

Oversupply fears paired with delays in conversion capacity hit the market in 2018, with price pressures leading to halts in expansions and production. Following a tough few years, lithium prices have been on the rebound in 2021 as demand from the EV sector continues to show strength despite the pandemic.

Lithium demand is forecast to almost triple by 2025, with the Australian government expecting spodumene exports to increase from 1.4 million tonnes in 2020 to 2.1 million to 2.2 million tonnes from 2022 to 2023.

But miners still have challenges going forward. Labour costs and shortages have been flagged as potential issues for construction and restarts of operations in Australia, according to CRU Group.

Additionally, as mentioned, Australia primarily sources lithium from hard rock, which is inherently more costly to convert into lithium carbonate compared to producing lithium carbonate from brine. However, this is expected to be more competitive in terms of producing hydroxide directly from hard rock.

"On the hard-rock mining cost curve, Australian assets are generally lower cost due to grades and economies of scale," James Jeary of CRU said when asked about the challenges lithium miners in the country face at the moment. "Junior Australian lithium miners face tough competition from incumbent domestic producers, but also other junior miners around the world."

Cobalt in Australia

Lithium is not the only battery metal the land down under is looking to develop. Cobalt, another essential element in cathodes for lithium-ion batteries, is also found in the country.

The metal is mostly mined in the Democratic Republic of Congo (DRC), which has often been linked to human rights abuses and child labour, bringing worries over security of supply.

"While the DRC will remain the dominant source of cobalt for the battery industry, we forecast Australia's share of mined cobalt supply to increase from 3.6 percent in 2021 to 4.4 percent by 2030," Greg Miller, analyst at Benchmark Mineral Intelligence, told INN.

Australia has the second largest cobalt resource in the world, estimated at around 19 percent of the global total; however, it currently only contributes 4 percent of global mine supply. The country's mined cobalt is typically a by-product of nickel laterite resources.

There are currently four producing companies in the country: Glencore (LSE:GLEN,OTC Pink:GLCNF), BHP (ASX:BHP,LSE:BHP,NYSE:BHP), First Quantum Minerals (TSX:FM,OTC Pink:FQVLF) and IGO. Glencore's Murrin Murrin is the largest cobalt producer in Australia.

Australian miners with cobalt projects in the country include Sunrise Energy Metals (ASX:SRL,OTCQX:SREMF), formerly Clean TeQ, which is developing the Sunrise project. The asset is considered one of the largest and most cobalt-rich nickel laterite deposits in the world.

Additionally, Jervois Mining (ASX:JRV) is developing its Nico Young deposit, and Cobalt Blue Holdings (ASX:COB,OTC Pink:CBBHF) has its efforts on the Broken Hill cobalt project in New South Wales.

The biggest advantage of Australian cobalt is its enhanced environmental, social and governance credentials compared to material mined in other regions, particularly the DRC, Miller said.

"For OEMs and cell makers alike, sourcing cobalt from Australia allows for greater supply chain transparency through improved traceability and audibility," he added.

Indeed, the analyst pointed out that BMW (OTC Pink:BAMXF,ETR:BMW) chose to source a portion of its cobalt through to 2025 from Murrin Murrin in Australia for these very reasons, avoiding mines in the DRC.

"Further to this, as the US accelerates the build out of a domestic lithium-ion battery supply chain and moves to reduce its exposure to Chinese dominated supply chains, western automakers sourcing cobalt from Australia would satisfy the Biden administration's strategy of sourcing critical battery raw materials from 'strategic allies,'" Miller said.

Similarly, Fisher said Australia is a politically stable and low-risk jurisdiction that is very familiar with mining.

"There is a high level of domestic mining expertise enabling Australia to produce a large number of commodities and be a major producer in numerous different markets," he explained to INN. "Quality and economic cobalt resources are therefore likely to be developed to support rising global demand, with a number already in operation."

According to CRU Group data, Australia produced just under 6,000 tonnes of cobalt in 2020, equating to around 4 percent of global mine supply.

"We forecast that this could rise to close to 9,000 tonnes by 2025," Fisher said. "New projects that could come online over the next few years include Western Areas' (ASX:WSA,OTC Pink:WNARF) Cosmos and (formerly) Clean TeQ's Sunrise project; however, both need further development and funding to progress. There are also production expansions expected at a number of existing operations."

Rare earths in Australia

Other critical minerals worth looking at are rare earths, a group of 17 elements found in everything from batteries to wind turbines. Some of the most important rare earths used in permanent magnet production for EVs are neodymium, praseodymium and dysprosium.

Despite lagging far behind China, Australia is in fact a top producer, with output reaching 17,000 metric tons last year. Australia accounts for about 10 percent of the total rare earth element (REE) production and it is the fourth largest producer of REEs.

ASX-listed Lynas (ASX:LYC,OTC Pink:LYSCF) is the owner and operator of the Mount Weld REE mine in Australia, and it could potentially double production if its processing plant in Malaysia is expanded, Luisa Moreno of Tahiti Global told INN.

Additionally, Iluka Resources' (ASX:ILU) Eneabba project is expected to reach production of monazite mineral concentrate this year.

"Unfortunately, Australia does not have commercial-scale REE processing capacity to produce REE mixed chemicals concentrate or to separate and refine REE elements," she said. "However, there are several other REE projects in the feasibility stage … so yes, Australia is definitely moving in the right direction."

Companies moving forward with REE projects in the country include Arafura Resources (ASX:ARU,OTC Pink:ARAFF), which is updating its feasibility study for the Nolans Bore project and actively looking for project financing; there is also Enova Mining (ASX:ENV), which is completing a new drilling program at Charles Creek and performing new metallurgical tests, and Hastings Technology Metals (ASX:HAS), which is optimising Yangibana's feasibility study.

Looking over to the outlook for the rare earths market, production of these critical minerals would have to increase by more than 50 percent by 2030 to fulfill demand.

"But without the support of the markets and governments to develop the Australian projects — and others around the world — REEs may become the most critical materials for the green industrial revolution, with China as the ultimate supplier," Moreno said.

Junior miners developing rare earths projects in Australia face challenges similar those in the rest of the world, according to Moreno, with one of them being metallurgical.

"One important step in the REE flowsheet is the production of a mineral concentrate with at least 30 percent total REE," she said. "And although most of the projects in Australia have as the dominant minerals monazite and bastnaesite, which are the common minerals in commercially operated mines, many junior companies are still not able to economically produce the essential REE mineral concentrate."

The other big hurdle is financing.

"As part of the feasibility study, companies should build demonstration plants to de-risk the projects," Moreno said. "These demo plants could cost tens of millions to build and operate, and after proving the process at that scale, the construction of a fully integrated plant could cost hundreds of millions depending on the size."

Don't forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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Although the lithium market can be tricky to understand, the payoff can be substantial, said John Kaiser of Kaiser Research.

John Kaiser: No Upside in Tesla, Lithium Juniors are the Future of the EV Story

Tesla (NASDAQ:TSLA) may be at the center of the electric vehicle (EV) revolution, but the Elon Musk-led company has no upside left. That means investors need to look elsewhere for opportunity.

That's according to John Kaiser of Kaiser Research. Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, he said that lithium juniors have become the place to be.

Referencing a report from Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO), Kaiser said that by 2035, roughy 1 million tonnes of lithium metal equivalent will be needed to support EV demand.

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lithium brine

Housing the world's largest deposits of lithium, Chile's unique geological landscape and climate make it ideal for lithium brine extraction

As the world continues on the path towards a future dominated by clean energy, lithium's importance only continues to grow. Demand for the battery metal has already reached an all-time high, increasing by 400 percent in 2021. What's more, there is every indication that this growth will continue in 2022, with prices increasing by 126 percent in just the first quarter.

Currently, Australia and Chile are the two leading producers of lithium, respectively accounting for 46.3 percent and 23.9 percent of worldwide production. Both countries are jurisdictionally inclined to support the mining sector. However, Chile's potential could one day see it outstrip even Australia where investment is concerned.

Housing the world's largest deposits of lithium, Chile's unique geological landscape and climate makes it ideal for lithium brine extraction. The country thus has a pivotal role to play in meeting demand and establishing a stable global supply chain.

A critical component of sustainability

Climate change is an undeniable problem, one which requires a collaborative effort to address. It is for this reason that governments around the world have all agreed to pursue full climate neutrality by 2050. Because combustion engines represent an inordinate percentage of greenhouse gas emissions, replacing them with electric vehicles (EV) is essential if any nation is to achieve their sustainability goals.

Lithium is used extensively in both consumer and professional electronics. It is also a staple metal in multiple other sectors, including mining, manufacturing and energy storage.

Given its cross-sector industrial importance, the battery metal was already in high demand.

The large-scale manufacturing of electric vehicles has caused this demand to increase exponentially. As multiple automotive manufacturers construct gigafactories to ramp up EV distribution, the need for lithium is growing well beyond our current production capacity.

Investors and mining companies can benefit by turning to jurisdictions like Chile to ramp up supply. The world's migration towards a sustainable future simply cannot occur without lithium.

Lithium: Australia versus Chile

Although Australia houses impressive lithium reserves, the majority of the country's stores occur in hard rock deposits. Mining these deposits is relatively inexpensive, but hard rock lithium operations also tend to have narrow margins compared to other methods. In particular, lithium brine extraction offers higher yields, greater efficiency and a lower overall environmental impact.

Currently, the largest lithium producer in Australia is Pilbara Minerals (ASX:PLS,OTC Pink:PILBF). Its flagship project, the Pilgangoora operation, is situated atop one of the world's largest hard rock lithium deposits. It also jointly owns a pegmatite lithium project with Atlas Iron (ASX:AGO), the Mt Francisco project.

Geography represents Chile's first major advantage over other jurisdictions. Alongside Bolivia and Argentina, Chile lays claim to a geographic region known as the Lithium Triangle. Located in the Andes in South America, it contains an estimated 68 percent of the world's identified lithium resources.

The Lithium Triangle is home to a series of vast salt flats, beneath which sit incredibly lithium-rich brine pools. More promising still is the climate of the region, which is known for being incredibly hot and dry. This represents a considerable boon for extraction operations, which typically rely on evaporative processes.

A powerful investment opportunity

Chile's mining sector has leveraged its arid geography to great effect. The country's Salar de Atacama salt flat is the largest-producing brine deposit in the world. It is also home to several major lithium brine operations.

One of these is owned and operated by Albemarle (NYSE:ALB). Currently the largest business provider of lithium for electric vehicle batteries, Albemarle also operates a lithium carbonate plant at La Negra. According to an Albemarle spokesperson, the company has a long history in Chile backed by a unique contract.

SQM (NYSE:SQM) operates another major lithium brine operation in the salt flat. As the world's largest lithium producer overall, the company recently announced plans to reduce brine extraction in the region by 50 percent by 2030. This announcement came in tandem with a commitment to reduce water usage across all its operations by 40 percent.

Finally, just south of Salar de Atacama is situated the highest-quality lithium pre-production project in Chile. Maricunga is jointly owned by Lithium Power International (ASX:LPI), Minera Salar Blanco and Li3 Energy. Situated just 250 kilometers from Chile's coast, and 170 kilometers from the mining town of Copiapo, it's said to possess characteristics directly comparable to Atacama. Maricunga is also adjacent to Highway 31, which connects Northern Chile to Argentina.

The most significant challenge to Chile's growth, from an investment perspective, is sociopolitical. Although the country has a history of being relatively friendly towards the mining sector, its current government is exploring new legislation that could nationalize both copper and lithium. A new mining royalty bill is also in the works, which could increase tax rates by up to 80 percent.

It's worth noting that not every investor considers the current political climate to be a risk. South32 (ASX:S32), a spinoff of BHP (ASX:BHP), recently invested US$1.55 billion to purchase a 45 percent stake in the Sierra Gorda copper mine, and a lithium auction held by Chile earlier this year saw Chinese manufacturing company BYD acquire extraction rights for 80,000 metric tons of lithium.


Chile is home to the largest, richest and most valuable lithium deposits in the world. For many investors, the high margins and low cost of lithium extraction in Chile more than make up for the potential of a few political speed bumps.

This INNSpired article is sponsored by Lithium Power International (ASX:LPI). This INNSpired article provides information that was sourced by the Investing News Network (INN) and approved by Lithium Power International in order to help investors learn more about the company. Lithium Power International is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.

This INNSpired article was written according to INN editorial standards to educate investors.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Lithium Power International and seek advice from a qualified investment advisor.

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Experts in the field weigh in on Goldman Sachs' lithium oversupply call and whether they think it accurately depicts what's happening in the market.

Last week, the lithium market was shaken by a report from investment bank Goldman Sachs (NYSE:GS) saying that the bull market for battery metals was over for now.

Prices for lithium, which increased more than 400 percent in the past year, are expected to drop in the next two years, with a “sharp correction” happening by 2023, according to Goldman Sachs analysts.

They project that lithium prices will fall from current levels to an average of just under U$54,000 this year, from an average of above U$60,000. By 2023, the bank forecast is for an average price of just over US$16,000.

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Work at the company’s Cancet project is building toward a maiden resource in Q1 2023, said Managing Director Chris Evans.

Although prices have cooled off from the highs seen earlier this year, the lithium market remains in focus and investors are interested in how to get exposure to the green energy transition.

Chris Evans, managing director at Winsome Resources (ASX:WR1), said Australian investors in particular are aware of the lithium opportunity, and reacted well to the company’s ASX listing this past November.

The company initially came to market with three lithium assets in the James Bay region of Quebec, and has since acquired two additional lithium projects in the province.

Speaking to the Investing News Network, Evans explained that Cancet is the company’s main focus. Recent assay results released during the Prospectors & Developers Association of Canada (PDAC) convention build on previous drilling at the property, and have increased the known pegmatite strike length to 1,200 meters from 600 meters.

Looking forward, Evans said that two geological teams are now on the ground at Cancet, and are investigating targets identified through geophysical surveys to figure out which of them require drilling.

Known pegmatites that have already been drilled are also being stripped and cleared so that the company can complete field mapping and decide where to drill next.

“Really all that’s working towards a maiden resource in the first quarter of 2023,” said Evans.

In terms of the overall lithium market, he said a recent Goldman Sachs (NYSE:GS) report saying the battery metals bull market is “over for now” put a damper on sentiment, but is generally not thought to be a major concern.

“I think that probably initiated a bit of a correction in the market, which may have been needed because lithium prices and stocks were at all-time highs,” he said. “But in terms of an oversupply like Goldman Sachs is predicting, I haven’t heard anyone agree with that since I’ve been here at PDAC.”

Watch the interview above for more from Evans on Winsome Resources and its plans for the next six months. You can also click here for our recap of PDAC, and here for our full PDAC playlist on YouTube.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Winsome Resources is a client of the Investing News Network. This article is not paid-for content.

The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

stones balancing with three smaller ones on one side and one larger one on the other

Experts believe the positive long-term outlook for electric vehicles means lithium demand’s breather could just be temporary.

Lithium prices climbed over 400 percent last year, with other key battery raw materials such as cobalt and nickel also seeing prices rally as demand from the electric vehicle (EV) industry picked up pace.

But by the end of the first quarter, prices started to stabilize as demand took a breather, particularly in China, where the government has imposed lockdown measures to contain a new wave of COVID-19.

“We expect lithium and cobalt prices to peak this year, from dented but still strong demand and supply chain challenges,” Alice Yu of S&P Global Market Intelligence said at a recent webinar.

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This article includes content from Balkan Mining (ASX:BMM), licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

person using credit card to pay for something on their phone

Revenue from Australia's mobile sector is expected to grow from AU$9.6 billion in 2021 to AU$11.2 billion in 2026. Here's what to know about this industry.

After lagging behind for a prolonged period, Australia's tech sector is ramping up at an accelerated pace. The tech sector is now equivalent to 8.5 percent of the country's GDP as of the end of 2021, an increase of 26 percent since the onset of COVID-19 through June 2021 and a massive 79 percent increase over the past five years. Tech contributes AU$167 billion to the Australian economy, trailing only the mining (AU$205 billion) and financial/insurance (AU$169 billion) sectors.

Australia's characteristically resilient economy — which had not experienced a recession in nearly 30 years prior to COVID-19 lockdowns — has provided a sturdy backdrop for its growing tech sector. The growth in the tech sector’s contribution to the GDP has outpaced average growth of other industries by more than 400 percent, a gain partly attributable to accelerated digital technology adoption during the pandemic.

This dramatic expansion is largely in response to Australia's need to catch up to the rest of the world and assert itself in the global tech marketplace. Should the tech sector continue to grow at its current rate it will eventually surpass the relative GDP contribution of the long dominant mining sector. This will also complete the process of bringing Australia more in line with other western economies such as the UK, and notably Canada, which is comparable to Australia in terms of its dominant mining and agricultural industries.

In terms of digital innovation earnings as a percentage of GDP, for example. Australia stands at 7.4 percent, significantly behind the 11.2 percent average for companies that are part of the Organisation for Economic Cooperation and Development (OECD). According to its September 2021 Policy Primer report, the Australian Academy of Sciences called for the federal government to place greater emphasis on supporting emerging digital technologies.

"Australia risks falling behind as a technologically-driven nation unless we recognise emerging digital technologies as a central, independent sector in its own right, warranting investment in the core aspects of research, innovation, and workforce development," the report stated.

Understanding Australia's mobile tech landscape

One of the drivers of Australia's tech sector expansion is its booming mobile telephone industry. This expansion has taken many forms ranging from expanded use of mobile telephony, adoption of blockchain technology for supply chain management and the rise of the cryptocurrency market. The application of mobile tech to the banking industry is just one space where mobile usage has become key and is expected to continue developing. According to research firm KPMG, digital platforms will become the preferred and dominant business model form.

Chase Bank completed a survey revealing that the COVID-19 pandemic has accelerated the adoption of mobile banking technology. Banking apps allow users to deposit cheques, pay bills and perform transfers from their mobile device.

One critical side effect of COVID-19 has been the way lockdowns and related restrictions on behaviour has changed the way people live and work. Remote working conditions and enforced isolation has triggered increased demand for improved connectivity and internet speeds to facilitate this transition in corporate culture during the pandemic.

As a result, Australia's leading mobile telephony giants have been obliged to improve data capacity and speed, especially in regional areas that have badly lagged behind urban coverage. Some people have relocated to regional areas — where connectivity remains a challenge — and others are requiring more data capacity and fast speeds to allow them to work more efficiently from home.

The Australian mobile sector is dominated by three main players: Telstra (ASX:TLS), Optus — a subsidiary of Singapore-based Singtel (SGX:Z74) — and TPG Telecom (ASX:TPG). Telstra is the largest provider of mobile services with 48.7 percent market share followed by Optus at 26.3 percent.

In 2022, there have already been several major new developments in the Australian mobile sector. One such event has been the tentative network sharing agreement announced in February between Telstra and TPG Telecom, which brings an end to the bitter rivalry between the two competitors. The agreement provides a comprehensive framework for the two telecom giants to share mobile telecommunication infrastructure across Australia.

TPG and Telstra will both enjoy significant savings and benefits from this arrangement. Telstra will reap up to AU$1.8 billion in added revenues while gaining access to TPG's spectrum that expands Telstra's fixed wireless services in regional areas. Correspondingly, TPG gains access to 3,700 Telstra towers in regional areas; this means TPG does not have to spend significant money to duplicate the infrastructure for its own use.

In addition, Telstra announced earlier in the year that it will spend up to AU$1.6 billion on new infrastructure intended to improve connectivity and internet speeds as part of its response to the overall need to accommodate rising consumer demand in the wake of the pandemic.

What's the outlook for mobile tech in Australia?

One of the positive side effects of the pandemic has been the increasing adoption of wireless services by Australians and the ownership of internet-of-things devices that are prevalent in nearly all households.

According to GlobalData, a data and analytics company, mobile sector revenue in Australia is expected to grow from AU$9.6 billion in 2021 to AU$11.2 billion in 2026 at a compound annual growth rate of 3 percent. This revenue growth will mainly accrue from growth in the mobile data subsector.

Meanwhile, the three leading telephone companies will not only be expanding their 4G services but rolling out 5G networks across the country. 5G allows for improved and additional smartphone services and also enhances fixed wireless services that are competitive with higher speed National Broadband Network (NBN) connections.

In addition, low earth orbit satellite services are beginning to roll out in Australia led by Elon Musk's SpaceX's Starlink service that offers broadband connections delivered via its satellite network.

Overfall, the winding down of restrictions due to COVID-19 will likely see the big three companies enjoy higher revenues in 2022 after declines in earnings owing to the pandemic. Telstra, Optus and TPG Telecom all experienced significant earnings drops between 2020 and 2021 due to reduced international roaming fees, softening demand for headsets and ongoing adoption of NBN services.

But the outlook for 2022 is positive given overall improved economic prospects as Australia emerges from the pandemic, which actually increased overall consumer use of communication services in 2021.

Lockdowns resulted in increased consumer uptake of online services such as online shopping, data-intensive video streaming and the additional household usage of communication services. Indeed, in 2021, data traffic reached record highs as Australian consumers demanded improved internet speeds and unlimited data plans. Remote work will likely continue to remain elevated in 2022 and beyond, which should reinforce increased consumption of home communications services.

Telstar and TPG Telecom in particular are embarking on long term strategies that will drive future earnings growth via accelerating 5G adoption, expansion in dark fibre, and increased adoption of new services such as edge/cloud computing.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Harold Von Kursk, hold no direct investment interest in any company mentioned in this article.

General Manager Matt Herbert described Ontario as an “undiscovered gem,” and spoke about the company’s work on its lithium projects in the province.

After making its ASX debut this past November, Green Technology Metals (ASX:GT1) has been hard at work in Ontario, Canada, where it holds three projects covering 35,000 hectares.

Speaking to the Investing News Network at the Prospectors & Developers Association of Canada (PDAC) convention, General Manager Matt Herbert described the province as an “undiscovered gem” with the potential to contribute to the lithium supply chain in an environmentally conscious manner.

“I think the opportunity there is to create some very, very green lithium,” he said.

“At the moment, a lot of lithium is mined in Western Australia, (then) shipped to China for processing; from China it goes to European battery markets. I think by the time that lithium arrives where it’s supposed to arrive it’s left itself a bit of a carbon footprint,” Herbert explained during the conversation. “We have a real opportunity here to leverage low-carbon lithium in a place that is really screaming for security.”

Green Technology Metals has already seen support from members of the Ontario government, including recently re-elected Premier Doug Ford, and Greg Rickford, who is the province’s minister of northern development, mines, natural resources and forestry, as well as its minister of indigenous affairs.

“Both are massive supporters of critical minerals,” said Herbert. “Those things are important when you’re at the permitting and approval stage, and that’s exactly where we’re at. We’re able to leverage those relationships really well, and there’s just no better place to be at the moment.”

Watch the interview above for more from Herbert on Green Technology Metals and its plans for the next six months. You can also click here for our recap of PDAC, and here for our full PDAC playlist on YouTube.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Green Technology Metals is a client of the Investing News Network. This article is not paid-for content.

The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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