A new CSIRO report suggests Australia has a significant billion-dollar opportunity to establish a new industry to support mine closures and transitions, thereby creating job opportunities for regional and Indigenous communities.
As about 240 Australian mines approach closure by 2040, new insights from mining industry databases and CSIRO analysis forecast an annual spend of more than $4 billion on mine closure and rehabilitation activities.
As a result of these closures, there is an increasing demand for novel solutions and technologies capable of driving mines to closure while resolving the related complex environmental, social, and economic concerns.
The report ‘Enabling Mine Closure and Transitions: Opportunities for Australian Industry’ was provided for the Cooperative Research Centre for Transformations in Mining Economies (CRC TiME). It explores prospects for Australian businesses to provide solutions to mine closure difficulties, such as equipment, technology, and services.
CSIRO Futures Senior Manager and report lead author Dominic Banfield underlined mining’s continued crucial role in Australia’s economy, generating jobs and critical minerals for the country’s energy transition and net zero emissions targets by 2050.
“With thousands of active and inactive mines in Australia, the demand for mine closure solutions will only increase as we seek to ensure positive closures and transition regions to successful post-mining futures,” Banfield said.
The report identified four prospects for mine closure strategies in four categories:
- Engagement and partnerships: solutions that enable effective engagement, co-design, and mutually beneficial partnerships to improve social performance and reduce risks.
- Waste reduction and recovery: solutions enabling cost-effective reduction, reuse, and recycling of mine waste to minimise closure liabilities.
- Mine rehabilitation: solutions improving the performance and cost-effectiveness of mine rehabilitation activities.
- Land use transitions: solutions addressing challenges in establishing post-closure land uses to generate lasting economic, social, or environmental value.
CRC TiME CEO Dr Guy Boggs emphasised the added social, economic, and environmental benefits derived from the mine closure solutions industry.
“The report’s comprehensive mapping highlights opportunities in engagement and partnership, waste reduction and recovery, mine rehabilitation, and land use transitions, showcasing the diverse spectrum of possibilities,” Dr Boggs said.
“Looking ahead, we believe Australia can harness its domestic mine challenge to emerge as a global leader in cutting-edge mine closure solutions.”
