We have 19% of the world’s cobalt resources (also used in batteries), and 18% of global vanadium resources, but we do no production here. The opportunity exists to diversify outside of traditional resources and take our resources sector up several notches by building onshore secondary processing in Australia.
Merger and acquisition activity has remained stable; the IPO market has been strong, and the ability of companies to raise funding through debt or equity has been good. However, with international borders closed and frequent state border shut downs, access to labour is one of the most difficult and limiting factors in a buoyant market.
In our podcast, Brent Steedman, National Head of Energy and Resources, says the positive sentiment is there – but we need to realise future opportunities by developing the next frontier – critical and Rare Earth minerals.