The Australian government insists that fossil fuels have a bright future and that Australia will continue to explore for and extract them. The government’s Technology Investment Roadmap highlights potential technological advancements that will support fossil fuel production, such as carbon capture and storage (CCS) and hydrogen production.

Investors in Australia’s mining sector are betting the government is wrong. Their focus is firmly on companies that produce the minerals that will be in demand if the world moves to replacing fossil fuels with renewable energy and increased electrification - eg: copper, nickel, lithium, cobalt, graphite and rare earths.

Companies list on the stockmarket to raise capital to fund their operations and increase their profile. Investors purchase shares in those companies if they expect the company to prosper and return money on their investment.

This briefing note tallies up new listings on the Australian Stock Exchange (ASX) over the year to 31 October 2021, comparing how many fossil fuel companies have listed, compared to resource companies focused on electrification minerals.