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Mining Increasingly Critical to Power the Global Energy Transition

  • 26 May 2023

Speaking on the launch of the 2023 International Mining and Resources Conference (IMARC) program, IMARC Chief Operating Officer Anita Richards said the industry was evolving to meet the growing energy demands of today while developing the minerals needed for a decarbonised economy – under unprecedented scrutiny from communities, regulators and investors.

“Explorers and miners are diversifying portfolios to align with future demand, with the highest level of M&A activity across both mining and METS we have ever seen, which is increasing the value of the major mining companies and underscoring the agility and strength of the mid-tiers. Suppliers of equipment, technologies and services are having to increase their capabilities to meet changing requirements, while downstream users and OEMs from sectors like automotive, high-tech, chemicals and defence are becoming more active in supply investments,” Ms Richards said.

IMARC 2023 features speakers from global companies such as Ivanhoe Mines, Centennial Coal, Agnico Eagle, Hatch, ICMM, Zhejiang Huayou Cobalt and Wyloo Metals, exploring themes including Digital Transformation and Innovation; Sustainability, Social Value, Environmental Resilience, People and Culture; Trade, Investment and Project Opportunities; and Energy Transition. 

The program includes a special ESG focus on creating social value, First Nations engagement, human rights and transparency, mine rehabilitation, heritage and environmental custodianship and economic development.

Ms Richards said: “Mining and resources have never been more important for sustainable economic, social and innovative development across the globe. We need more exploration and development to match surging demand for the critical minerals that are central to the global energy transition. IMARC 2023 is where the most important conversations are being held about how mining and resources can help achieve global development sustainably and equitably.”

Ms Richards said the global energy transition presents an opportunity for Australia’s resources industry. 

“The International Monetary Fund (IMF) estimates Australia could benefit from a sixfold jump in demand for critical minerals over the next two decades worth AUD$17.6 trillion. Australia is already the world’s number one producer of lithium and has extensive deposits of critical minerals like nickel, cobalt, manganese ore, rare earth elements, tungsten, and vanadium.  

“But to leverage this economic and environmental opportunity, we will need more resources than ever before if we are to help the world achieve its climate goals. 

“IMARC is a key forum to address these challenges, and the global profile of the event is reflected in delegations already confirmed from India, Saudi Arabia, Ecuador, Chile and Germany, and many more.”

IMARC 2023 will take place at the ICC Sydney from 31 October to 2 November. It is the 10th anniversary of what has grown into Australia’s biggest business event, with a record 8,500 delegates from over 100 countries, including upwards of 50 Government delegations.

Business Events Sydney CEO Lyn Lewis-Smith said: “The program showcases the best of Australian ingenuity as our country is transitioning its economy. Our research shows that as well as generating tens of millions of dollars in direct expenditure into the NSW economy from thousands of delegates gathering in Sydney for three days, world-leading business events like IMARC 2023 are also a platform for investment and talent attraction and sharing knowledge about global best practices and innovations.”

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