The Net Zero Economy Agency (the Agency) has been meeting on-the-ground with regions experiencing impacts in the net zero transformation – like Newcastle and the Hunter, Latrobe Valley, and Gladstone and Central Queensland – to understand how we can support a positive and orderly net zero transformation of Australia’s economy.
The Upper Spencer Gulf is one of the regions where the Agency has been focusing. It has a strong industrial history built on its access to natural resources and port facilities, and is home to communities including Whyalla, Port Pirie, and Port Augusta.
The Agency has been engaging with the South Australian Government, local communities, industry and other stakeholders in the region to understand the challenges and opportunities as part of the net zero transformation.
The South Australian Government recently launched its State Prosperity Project, which envisions a reindustrialised future in the Upper Spencer Gulf by unlocking mineral resources, renewable energy, and green manufacturing.
The State Prosperity Project seeks to position the Upper Spencer Gulf to capitalise on the rich copper reserves in northern South Australia, with copper demand expected to increase as a key input to electrical technologies – like electric vehicles – needed for the transition.
The South Australian Government is also examining the feasibility of the Northern Water project – a large-scale desalination plant and 600km pipeline to deliver water to the mineral rich areas of the state. This can help support increased copper production, as well as the South Australian Government’s ambitions to produce green hydrogen for power generation and industrial production.
With a supply of renewable hydrogen, South Australia could capitalise on its magnetite iron ore reserves and existing steelworks to replace fossil fuels with hydrogen in the iron-making process and significantly reduce emissions.
The Agency has been working with the South Australian Government to examine what role the Australian Government could play in facilitating these opportunities.
We are also engaging with other state and territory governments, industry, communities and local stakeholders to support regions as they transition to a net zero economy. This includes understanding what local planning is underway, as well as where Australian Government support is needed to coordinate and help drive positive outcomes for communities.
This is work the forthcoming Net Zero Economy Authority will continue in regions across Australia, and will be key in ensuring workers and their communinities are supported to share in the benefits of the net zero global economy.