Australia eyes US climate policy shift for green energy boost
SYDNEY - Any move by the Trump administration to change US climate policy could benefit Australia's ambitions to attract greater investment to its critical minerals and green energy industry, Prime Minister Anthony Albanese said on Friday.
Australia has rich deposits of copper, vanadium, cobalt and lithium used in electric vehicle batteries. It is competing for global investment to build its clean energy sector, including critical minerals processing.
Trump has promised to rescind President Joe Biden's landmark climate legislation, the Inflation Reduction Act, which provides billions of dollars in subsidies for clean energy.
"There are potential benefits if there are changes in US policy. We'll wait and see what occurs," Albanese told reporters in Peru, where he is attending the APEC summit.
Australia sees climate action as a great economic opportunity, he said.
"The Inflation Reduction Act, for example, has seen considerable capital flow to the United States. If those incentives aren't there, then that has implications for the nature of the global economy," he said.
Australia was not pre-empting changes, he added.
"We have all of the resources under the ground that will drive the global economy in the 21st century. Copper, vanadium, cobalt, lithium, etc. We have a great opportunity to produce green hydrogen through use of the renewables," he said.
Albanese met with Indonesia's President Prabowo Subianto on Thursday, and told reporters the impact of a Trump presidency on the world was "part of the backdrop of APEC", and was being discussed by leaders.
Albanese added his phone call with Trump last week was "very constructive".
Comments
Research Reports
Projects
Latest Multimedia
Showroom
BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...
VISIT SHOWROOM
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
