Australian national science agency CSIRO has revealed that research, development, and demonstration (RD&D) investments and international collaborations are essential to Australia’s critical minerals opportunity.
In the past five years, the demand for energy transition minerals has doubled to US$320 billion ($489 million), due to the growing demand for electric vehicles and the continued deployment of solar and wind power.
In a new report by CSIRO, data is provided on the current capabilities and RD&D and international cooperation opportunities across lithium, cobalt, silicon, rare earths, and graphite.
CSIRO Futures minerals lead Max Temminghoff says the report will contribute to Australia’s efforts to develop beyond mining and shipping to higher value processing and manufacturing using critical minerals.
“This report presents an optimistic outlook, providing insights into current RD&D capabilities and a pathway forward,” Temminghoff says.
“To become competitive in mid-stream processing, promoting innovation, coordinating efforts across industry, research, and government and international collaboration are essential.
“Innovation plays a crucial role in improving existing commercial processes and introducing disruptive technologies to support cost-competitive and sustainable production of materials in Australia that are essential to the energy transition and in high global demand.”
Temminghoff adds that by fostering innovation and collaboration, Australia could capitalise on the global demand for minerals needed for the energy transition, as well as strengthen its global leadership in critical minerals processing.
CSIRO mineral resources director Rob Hough says the report shows Australia’s technical strengths and homegrown capability, presenting opportunities for innovation and global partnerships.
The report was funded by the Critical Minerals Office in the Department of Industry, Science and Resources and helps to inform the Australian Critical Minerals Research and Development Hub. The hub is a $50.5 million initiative involving CSIRO, ANSTO, and Geoscience Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: CSIRO
