State of Play Critical Minerals Report 2022 released
The challenge is to meet the demand for metals driven by changing technical requirements including, for digital equipment, renewable energy, chemical processing and electrification of industry
MRIWA co-sponsored project State of Play Critical Minerals Report 2022 (M10470) has been released.
The study considered three time-horizons with regard to solution benefit on each Critical Mineral:
- Horizon 1 (current) – Existing, proven technology and processes can be applied to increase supply.
- Horizon 2 (breakthrough) – New methods and/or technologies are required to increase supply.
- Horizon 3 (unknown) – New methods and technology need to be identified to make mining feasible.
Key Findings of the report delivered include >
- Need to Promote Australia as a low risk critical mineral supplier:
- Engagement from Australian businesses, senior government officials, trade delegations and NGOs with foreign investors.
- Pursue cooperative arrangements with foreign investors:
- The creation of alliances, forging of cooperative arrangements or trade agreements should be pursued with those foreign investors
- (FIRB) process:
- Reform targeted at streamlining the critical mineral investment review processes and increasing the flexibility of investment thresholds should be considered.
- Provide direct project finance:
- Continue and increase the provision of government-backed grants, incentives, and debt facilities to catalyse private co-investment.
- Establish waste processing hubs:
- Support the construction of centralised waste processing facilities.
Western Australia can use this report to identify further benefits to the state.
The study outputs are relevant to MRIWA decision making and analysis of opportunities. The insights could help accelerate priority research programs in Western Australia. Cooperative arrangements on research with Asian minerals institutions and the overseas processors can develop the maturity of Australian critical mineral processing
The opportunities outlined in the report apply to multiple commodities. with a range industry participants. Theoverview given from the survey responses in the study will be an enabler for potential Critical Minerals projects. It identifies the needs of building technical knowledge, targeting resourcs and looking at customers for investment in WA. The consideration of multiple technology solutions could also support are range of strategic investments in R&D to benefit Western Australia.
To find out more about the project and read the final report, click here.
Page was last reviewed 16 January 2023