2.3 What are the benefits for WA? The cost of missing the New Energy metals industry development opportunity, the New Energy transition, would be high for WA. The direct losses per unit of New Energy metals exported are substantial. The indirect losses through an opportunity forgone to expand WA’s industrial and logistics infrastructure for further development by future industries would be much larger. Research conducted as part of this report estimated the following potential employment generation and capital investment from a fully developed New Energy metals industry in WA. Table 1: Estimated Potential Employment Generation and Capital Investment From Developing the WA Energy Metals Industry
Energy metals - lithium, cobalt, nickel, rare earths and vanadium Employment Current employment in the New Energy metals sector – 2017
7,291 21,480
Actual
Expected growth in direct employees until 2025
Estimate
Forecast employment in the New Energy metals sector - 2025 Direct – Full Time Employment 2025
Estimate Estimate
28,771 71,927
Indirect employment 2025– multiplier 2.5
Total New Energy metals sector employment 2025
Estimate
100,698 A$3.33
Employee wages in 2025
Estimate billions per annum Estimate millions per annum
A$183.30
Payroll taxes 2025
Economic contribution from the New Energy metals sector Economic contribution of New Energy metals 2016/2017
A$2.97
Estimate billions per annum Estimate billions per annum
A$56.52
Potential Economic contribution mine, refining and 10% of electrochemical production per annum 2024/2025
Capital investment for the New Energy metals sector Capital investment forecast for new mines, refining facilities
A$13.81
Estimate billions until 2025 Estimate billions until 2025
A$34.11
Capital investment forecast for new mines, refining facilities, secondary processing and recycling
Source: InfraNomics 2018. All estimates are in nominal values.
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