R&D investment and international collaboration key to Australia’s critical minerals opportunity
Prioritising research, development and demonstration (RD&D) investment and international collaboration are essential to helping Australia become a leader in the global energy transition, according to a new report by CSIRO, Australia’s national science agency.
Released today, the report is the first comprehensive assessment of innovation in critical minerals refining required to build a sovereign mid-stream processing industry in Australia.
The demand for energy transition minerals has doubled in the past five years to US$320 billion, led by the exponential growth of electric vehicles (EVs) and the continued deployment of solar and wind energy.
The report provides data on the current capabilities and RD&D and international co-operation opportunities across lithium, cobalt, silicon, rare earth elements and graphite.
The report takes the guess work out of investment and policy decision-making, by unpacking the processing technology options to make essential materials for:
- lithium-ion batteries used in electric cars
- rare earth magnets used in electric cars and wind turbines
- solar PVs.
Max Temminghoff, Minerals lead at CSIRO Futures, said the report would 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,” Mr Temminghoff said.
“Australia has a rich critical minerals resource endowment and world-leading capabilities across several mid-stream activities.
“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.
“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.”
CSIRO’s Mineral Resources Director Dr Rob Hough said the report was timely.
“This report showcases Australia’s technical strengths and homegrown capability, presenting opportunities for significant innovation and international partnerships,” Dr Hough said.
Australian Critical Minerals Research and Development Hub Manager Lucy O’Connor said R&D had a pivotal role to play in realising Australia’s potential in critical mineral processing, commercialising the sector and establishing the ESG standards and practices that set Australian industry apart.
“We need to ensure research is targeted to industry problems and outcomes and can be developed into commercially applicable technologies,” Ms O’Connor said.
“This report provides information industry, international partners and investors, as well as the R&D sector, need to identify comparative opportunities as well as the most challenging technical bottlenecks for the sector when developing integrated supply chains in critical minerals.”
The report was funded by the Critical Minerals Office in the Department of Industry, Science and Resources and will also help inform the Australian Critical Minerals Research and Development Hub, a $50.5m initiative which brings together Australia’s leading science agencies – ANSTO, CSIRO and Geoscience Australia.
