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Australia is finally getting serious about global warming, and everyone from oil majors to billionaire mining magnates is looking for a way to capitalize on the transformation.

Signs of change are everywhere on the continent. A new government has been elected, pledging to cut greenhouse-gas emissions faster; the nation’s biggest power grid has a multibillion-dollar plan to dump coal; and some of the country’s richest people who made their fortunes in mining and technology are lining up huge green-energy projects designed to pivot the nation from fossil-fuel king to a global supplier of green energy and the metals needed to build electric vehicles.

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