Australian Mineral Prices Fall Despite Renewable Energy Future

Australia's green future is closer with the Government's large-scale renewable energy target set to be met by 2020.

The Clean Energy Regulator announced last week that the milestone had been met ahead of schedule after four large wind and solar power stations were approved.

With a move away from fossil fuels and thermal coal mining, experts predict a higher demand for minerals like zinc, copper, and cobalt used for renewable energy.

Australia's mineral prices on the other hand are not reflecting the same optimistic outlook.

Minerals' green future

Metals such as zinc and copper are key ingredients for components used inside rechargeable batteries, and in solar and wind farms.

The Climate Council's latest outlook report, released last month, tipped Queensland's north-west minerals province to be the main provider of minerals to boost the renewable energy industry, not only in Australia but globally.