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Posted 3 years ago | 2 minute read
Australia mining export earnings to reach record highs
Australia’s mining and energy export earnings are forecast to reach a record A$425N in 2021-22, following global energy and commodity price spikes, the government has said.
Resource export earnings are forecast to climb 33% in the 2021–22 financial year ending in June from a record A$320B the previous year driven by an unprecedented surge in coal and LNG prices, the Department of Industry said in its quarterly resources and energy outlook. While this is good news for companies in the short term, the report also noted that earnings are expected to fall to A$370B in 2022–23, with further falls out to 2027.
As energy is one of the biggest expenses for mining companies, constituting approximately 30% of total cash operating costs, therefore the rewards of shaving off even a fraction of energy usage can be considerable and mining companies have significant opportunities to use their energy strategy to lower costs, improve safety, reliability and sustainability, and mitigate risks to ultimately gain a competitive advantage.
GridBeyond works with mining businesses across the globe to boost sustainability credentials, create new revenue and savings opportunities.
GridBeyond uses machine learning technology to enable mining businesses to participate in a wide range of programmes for enhanced energy automation, insights and benchmarks, savings, revenues and sustainability.
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