A collaborative team of the nation’s top data researchers and private industry experts. Together, they plan to meet the challenges and realise the promise of Australia’s critical minerals industry. With global demand for these resources surging, the team, including Amir Razmjou, Aleks Nikoloski, Jacques Eksteen, and Tony Tang, is focusing on emerging technologies and refining methods that could position Australia as a leader in the market.
The importance of this mission has been all the more highlighted by recent geopolitical events. Australia and the United States recently signed a $13 billion critical minerals pact. Now, thanks to the pandemic, there’s renewed pressure on the industry to innovate and improve their processes. The experts believe that advances in technology could enhance efficiency and help meet environmental targets, such as achieving net-zero greenhouse gas emissions by 2050.
The Quest for Low-Cost Production
Amir Razmjou emphasizes that for Australia to succeed in the global market, it must find ways to produce critical minerals at lower costs. He remains convinced the country is at an inflection point—a moment of great challenge. These challenges have kept it from fully developing its own domestic resources.
“If we want to be successful in the global market, we need to find a way to produce at low cost,” – Professor Amir Razmjou
Razmjou’s worries show the economic pinch the industry is working under. It is – and for that reason, Australia cannot compete with China or other countries with cheaper production costs. In China, production processes that are heavily subsidized make it impossible for us to compete.
In his initial comments, Razmjou identified three major barriers that have held Australia back from being a leader in this space. These factors range from economic disadvantages to technological hurdles to environmental impacts. This will not be easy, but addressing these issues will be critical for North America to obtain a slice of the booming global refining market.
Innovations in Refining Technologies
Aleks Nikoloski, who directs Murdoch University’s Extractive Metallurgy Hub, is one of those on the front lines of scaling up the new refining methods. His research aims at creating new technologies that improve processing efficacy while minimizing cost. Nikoloski agrees that there are technical solutions, but economic feasibility is still a major barrier to implementation.
“We can do it very effectively from a technical point of view, but from an economic point of view we are disadvantaged,” – Professor Aleks Nikoloski
Nikoloski’s commitment to improving refining methods is driven by a desire to ensure that Australia’s critical mineral processing aligns with environmental standards. He hopes for a future where these processing methods empower an efficient and socially acceptable direction to be taken within Australia’s environmental policy context.
The potential for innovation in this area is enormous. For instance, Nikoloski stated, “In that case, we will just have to increase and ramp further — it is a never ending story.” This is a sign of an important, increasing effort to just keep making the process better as demand increases.
Industry Volatility and Government Support
Jacques Eksteen, another central player in this bold initiative recently sounded the alarm bell at an international metallurgy festival about the sector’s boom-or-bust nature. He added that geopolitical concerns increasingly drive the sector, leading to an unpredictable environment that can stifle investment and development.
“They’re critical because of geopolitical reasons, mostly, which means that politics created the problem in the first place,” – Jacques Eksteen
Eksteen highlighted government intervention as a key factor in stabilizing the industry. He’s convinced a strong safety net will enhance innovation. Further, it would go a long way towards ensuring the long-term viability of Australia’s developing critical minerals sector.
Eksteen focused on the environmental impact of minerals production. Razmjou highlighted the carbon footprint associated with lithium production, noting that “the production of lithium from hard rock produces somewhere around 15 to 20 tonnes of carbon dioxide (CO2) per one tonne of lithium.” This alarming statistic only highlights the importance of more sustainable practices across the industry.
