Western Australia has been redrafting its 50-year-old heritage laws which currently give the minister the ultimate say in whether miners can destroy heritage sites.
The country is currently the biggest producer of the two crude metals, and a restriction on more smelters coming online could hit Chinese stainless steel producers.
Global exploration spending for base metals will nearly double within five years from the current annual $70 million to $80 million, CTO Laura Tyler says.
Western Australia has been redrafting its 50-year-old heritage laws which give the state Aboriginal Affairs minister the ultimate say in whether miners can destroy heritage sites.