Int’l collaboration key for Australia’s critical minerals industry: report

CANBERRA, July 24 (Xinhua) — Research, development and demonstration (RD&D) and international collaborations are key for Australia to become a leader in the global energy transition, according to the national science agency.
The Commonwealth Scientific and Industrial Research Organisation (CSIRO) on Wednesday published its first comprehensive assessment of innovations in the refining of critical minerals that would allow Australia to build a mid-stream processing industry.
It found that, in order for Australia to become a global leader in processing critical minerals, investment in RD&D and international collaboration must be prioritized.
Critical minerals such as cobalt, lithium and manganese are essential for the manufacturing of lithium-ion batteries used in EVs, rare earth magnets for EVs and wind turbines and solar photovoltaic (PV) cells.
Australia’s recoverable deposits of critical minerals are among the largest in the world. The federal government in May committed seven billion Australian dollars (4.6 billion USD) in funding to support the processing and refining of 31 critical minerals between 2027-28 and 2039-40.
According to the CSIRO report, which was commissioned by the government, global demand for critical minerals has doubled in the past five years to 320 billion U.S. dollars as a result of exponential growth of electric vehicles (EVs) and ongoing deployment of solar and wind energy.
Max Temminghoff, Minerals lead at CSIRO Futures, said that the report would contribute to Australia’s efforts to develop processing and manufacturing industries using critical minerals.
“To become competitive in mid-stream processing, promoting innovation, coordinating efforts across industry, research and government and international collaboration are essential,” he said in a media release.
“By fostering innovation and collaboration, Australia can also capitalise on the international demand for minerals needed to support the energy transition and strengthen its global leadership in critical mineral processing.”
The findings of the report will help inform the Australian Critical Minerals Research and Development Hub, a government initiative composed of experts from the CSIRO, Geoscience Australia and the Australian Nuclear Science and Technology Organisation (ANSTO). ■