Categories: Base Metals / Energy / General Market Commentary / Precious Metals
Topics: General Base Metals / General Energy / General Market Commentary / General Precious Metals

$50 trillion in new investment needed to match global energy demand in next 20 years: Rio Tinto director

$50 trillion in new investment needed to match global energy demand in next 20 years: Rio Tinto director

Global energy markets will need around $50 trillion in new investment to fund expected growth in energy demand over the next two decades, according to one of Australia’s pre-eminent business and industry experts.

Such investment would be needed to fund an energy market expected to grow by 40% through until 2035 – with that higher consumption continuing to rely in part on baseload fossil fuels.

The forward energy estimates also come with a warning that the infrastructure underpinning electricity grids will have to fundamentally change.

Central planks to this “fundamental shift” will be developing new renewable energy storage technologies and embracing cutting-edge technologies “currently coming down the pipelines” – much of the latter being led by Australia.

The comments were made last night (Friday, 28 October) in a speech in Adelaide by Rio Tinto non-Executive Director and former CSIRO Chief Executive, Dr Megan Clark AC, delivering the Australasian Institute of Mining and Metallurgy’s (AusIMM) 42nd Essington Lewis Memorial Lecture.

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