For this week’s Transition Thursday, several companies have been releasing reports regarding Australia’s resources sector or outlining the environmental progresses on how they are contributing to the energy transition.
In PwC Australia’s latest Global Mine report, the nation’s mining sector is positioned to lead in advancing global decarbonisation goals, if it can align key public and private sector stakeholders to attract investment.
The report examined the performance of the world’s top 40 largest mining companies, which found Australia is the top leader in cobalt (16%), lithium (23%), manganese (29%) and nickel (18%) reserves. However, in many cases, production rates are not keeping pace.
PwC Australia global mining and metals leader Franz Wentzel says to release the opportunities, closer alignment is required between mining companies, governments, and customers.
“Addressing the evolving challenges to take advantage of these opportunities will require a shift in thinking – from operating dominant logic towards a more open and collaborative approach,” Wentzel says.
“If this is achieved, the sector can drive progress, unlock new value and shape the future of sustainable practices, helping to propel the industry forward.”
Among the world’s 2024 top 40 mining companies are Australian organisations, with BHP (ASX:BHP) ranked first and Rio Tinto (ASX:RIO) ranked third. Meanwhile, Fortescue (ASX:FMG) was ranked 14th, Northern Star Resources (ASX:NST) ranked 31st, and South32 (ASX:S32) ranked 35th.
New-build electricity generation
Meanwhile, the Commonwealth Scientific and Industrial Research Organisation (CSIRO) released its 2024-25 GenCost Report, revealing small modular nuclear reactors have the highest cost option when it comes to new-build electricity generation technologies.
Small modular reactors are a type of nuclear fission reactors that are designed to be built in factories and are transported to operation sites.
These reactors generally have a power capacity of 300 megawatt(e) per unit, which is about one-third of the capacity of traditional nuclear reactors.
The report, conducted in collaboration with the Australian Energy Market Operator (AEMO), found renewables backed by storage and transmission remained the lowest cost of new-build electricity generation. Gas with carbon capture and storage (CCS) and large-scale nuclear follow next as the lowest cost options.
Despite being a low-cost option, gas with CCS and large-scale nuclear are not currently deployed for electricity generation in Australia.
CCS is a process used to reduce carbon dioxide emissions from various sources, including fossil fuel power plants and industrial facilities. Large-scale nuclear energy refers to nuclear power plants that generate hundreds or thousands of megawatts of electricity.
Climate change responsibilities
Global law firm DLA Piper has advised four developing nations in the pro bono hearings in the advisory opinion on the Obligations of States in respect of Climate Change before the International Court of Justice (ICJ).
The four governments include the Democratic Republic of Timor-Leste, the Kingdom of Tonga, Solomon Islands, and the Republic of Zambia.
DLA Piper Partner Stephen Webb says the advisory opinion provides necessary clarity on the responsibilities of states to take action on climate change, while also supporting small island developing states to respond to impacts of climate change.
“This proceeding was truly Pacific-led, and we acknowledge the incredible efforts of the Pacific Islands Students Fighting Climate Change and the Vanuatu Government for spearheading this initiative,” Webb says.
The ICJ released its first advisory opinion on climate change on 23 July 2025. Its opinion clarified that states have legally binding obligations under international law to protect the climate system from greenhouse gas emissions, including duties under climate treaties, other environmental treaties, the law of the sea, customary international law, and human rights law.
States can be held responsible for internationally wrongful acts when they fail to exercise due diligence in regulating emissions, including from private actors and corporations under their jurisdiction.
When a state breaches these obligations, DLA Piper says they must cease the wrongful conduct and provide full preparation through restitution, compensation, or satisfaction to injured states that can show a direct causal link to the harm suffered.
Progressing environmental needs
Titanium Sands (ASX:TSL) is further progressing environmental studies for the Manna Heavy Mineral Project in Sri Lanka, with consultants in the area progressing field investigations, technical assessments, and data collection.
The work has also included an ecological field assessment, focusing on flora and an initial field visit by the Water Resources Board and Department of Agriculture.
Titanium Sands expects to submit a revised work schedule upon completing the remaining field visits, outlining the balance of work and timing of the completion of the required environmental impact assessment (EIA).
Managing Director James Searle says the EIA is progressing concurrently with other aspects of creating this project.
Heavy mineral sand concentrations occur along the shorelines of Sri Lanka in numerous places along the northeastern and northwestern coasts.
Titanium Sands holds five exploration licences considered prospective for heavy mineral sands in Sri Lanka.
The shift to clean energy technologies to generate and store power is underway worldwide. As such, solar power, wind farms, and electric vehicle demand is increasingly growing, which means so is the mining activity to produce them.
Over the next 20 years, the International Energy Agency (IEA) expects the global clean energy transition will have consequences for mineral demand.
By 2040, total mineral demand from clean energy technologies is expected to double in IEA’s stated policies scenario and quadruple in its sustainable development scenario.
In both scenarios, electric vehicles and battery storage account for about half of the mineral demand growth from clean energy technologies over the next two decades, spurred by demand for battery materials.
Write to Aaliyah Rogan at Mining.com.au
Images: PwC, CSIRO, & Titanium Sands
