Australia: A global resource for a net zero future

A partner of choice in a net zero world

Abundant minerals for a net zero transformation

Australia is a secure and reliable source of minerals. With abundant reserves and an advanced mining industry, we will remain a top exporter of minerals. Australia boasts the largest reserves of iron ore including magnetite and high-grade hematite, which are ideal for green steel production. We are also the world’s largest producer of lithium. This is in high global demand owing to the popularity of lithium batteries.

Australia boasts the world's largest reserves of zinc and nickel. We are also becoming a key supplier of multiple rare earth minerals. Australia is a promising destination for fresh investment. About 80% of our land is still largely unexplored, offering vast potential for discovering new mineral deposits.

The table shows the global production and reserve rankings for a selection of Australia's minerals in 2022. The information is as follows: Iron ore rank production is #1 and #1 for reserves. Lithium rank production is #1 and #2 for reserves. Zinc rank production is #3 and #1 for reserves. Manganese Ore rank production is #3 and #4 for reserves. Rare earths rank production is #3 and #6 for reserves. Tantalum¹ rank production is #3 and #2 for reserves. Cobalt rank production is #4 and #2 for reserves. Nickel rank production is #5 and #1 for reserves. Aluminium¹ rank production is #7 and #na for reserves. Copper rank production is #8 and #2 for reserves. Graphite rank production is #na and #8 for reserves. Molybdenum rank production is #na and #5 for reserves.

1. Information for 2023.

Geoscience Australia, 2024, Australia’s Identified Mineral Resources; US Department of the Interior, 2024, Mineral Commodity Summaries; Austrade.

A top destination for renewables investment

Australia is a top-tier location for investment in renewable energy. We were the fifth most attractive destination in the world for renewable energy investment in 2023. This measure considers factors such as energy demand, policy reliability, project stability and delivery, and the diversity of natural resources.

The graph plots a country’s attractiveness for renewable energy in 2023. The information, including each country's ranking in brackets, is as follows: US (1) 73.9; Germany (2) 71.4; China (2) 71.4; France (4) 70.6; Australia (5) 70.2; India (6) 69.2; UK (7) 68.3; Spain (8) 67.1; Denmark (9) 66.3; Netherlands (10) 66.1; Canada (11) 65.1; Italy (14) 63.2; Poland (15) 62.4; Finland (20) 60; Taiwan (24) 59.1; Korea (27) 57.3; Philippines (32) 56.1; Vietnam (33) 56; Mexico (35) 55.5; South Africa (37) 54.3; Thailand (38) 54.2; and Saudi Arabia (40) 53.7.

EY, 2024, Renewable Energy Country Attractiveness Index 2023, accessed February 2024, Austrade

More about net zero transformation

Chapter 2 in the Benchmark Report provides further data and insights into Australia's net zero transformation.

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