Australia needs to improve the technology in its power stations if it wants to hold its advantage in the energy market and is facing a “make-or-break moment”.
That’s according to chief executive of Rio Tinto Energy Harry Kenyon-Slaney, who called for smart policy-making in an upcoming government energy strategy paper. In particular, for carbon capture and storage technology in which Rio has so far invested more than $US100 million, believing coal will continue to “do the lion’s share of heavy lifting” to meet energy demand.
Kenyon-Slaney plans to tell this to the Energy Policy Institute of Australia conference in Sydney today.
Rio Tinto is backing modifications to the renewable energy, which it blames for driving up power prices for all consumers and eroding profitability in the already struggling mining industry.
Kenyon-Slaney’s pitch will follow Rio Tinto’s renewed application for government approval submitted on Thursday to expand its coalmine in the Hunter Valley.
Read more here.
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