"We are urgently off course and we need to course correct immediately," Sherry Duhe, interim CEO of Australia's top gold miner and a former oil industry executive, told a mining conference in Brisbane.
Other metals, such as nickel, cobalt and lithium, used in batteries and wind turbines, are also urgently needed for the energy transition.
Miners need to step up development by an order of magnitude and governments need to slash regulatory timelines and beef up regulatory staffing, as regulation is becoming more complex, including duplicated rules, Duhe said.
Newcrest is relying on a wind farm to supply 40% of its electricity needs for its Cadia gold mine in New South Wales state, but that power project development is struggling with regulatory time frames.
($1 = 1.5158 Australian dollars)Reporting by Melanie Burton; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.
Persons:
Sherry Duhe, Duhe, Melanie Burton, Sonali Paul
Organizations:
BRISBANE, Newmont Corp, Thomson
Locations:
Brisbane, New South Wales, Newcrest, Australia, Canada, Papua New Guinea