A report outlining a new strategy to help to maximise Australia’s potential as a world powerhouse in lithium-ion battery manufacturing was launched in a joint media release on 11 December from Senator the Hon Simon Birmingham, Minister for Trade, Tourism and Investment and Senator the Hon Matthew Canavan, Minister for Resources and Northern Australia.
In launching Austrade’s new Lithium-Ion Battery Value Chain: New Economy Opportunities for Australia strategy, Minister Birmingham said that Australia was well positioned to become a world-leader in this developing market. He added that “Lithium-ion battery technology has enabled the mobile device revolution and is driving innovation and a global shift in energy storage solutions.”
“With growing global demand for lithium-ion batteries, this report recognises that Australia has a once-in-a-generation opportunity to transform into a major processing, manufacturing and trading hub for lithium-ion batteries.
Minister Canavan said it was time Australia took advantage of the booming lithium industry. “Lithium prices have tripled since 2010 and global battery consumption is predicted to increase five-fold in the next 10 years, driven by a global shift to electric vehicles in some markets and off-grid storage to support renewable energy development.” Minister Canavan added “As the world’s largest producer of lithium and with mineral reserves covering 90 per cent of the elements required in lithium-ion battery production, we have an enormous opportunity to leverage of this rapidly-growing industry.
“With the right policies we can advance our industry further up the value chain to become the world’s leading supplier of high grade lithium components including ion-batteries – creating new jobs and opportunities for Australians.”
The Lithium-Ion Battery Value Chain: New Economy Opportunities for Australia report is available on the Austrade website here.