A new report by CSIRO, Australia’s national science agency, emphasises the crucial role of research, development, and demonstration (RD&D) investment and international collaboration in positioning Australia as a leader in the global energy transition.
The report, released today, provides the first comprehensive assessment of innovation in critical minerals refining necessary to establish a sovereign mid-stream processing industry in Australia.
This world-first assessment comes at a time when demand for energy transition minerals has doubled to US$320 billion in the past five years, driven by the rapid growth of electric vehicles and the ongoing deployment of solar and wind energy.
The study offers insights into current capabilities and opportunities for RD&D and international cooperation across key minerals including lithium, cobalt, silicon, rare earth elements, and graphite.
It aims to guide investment and policy decisions by detailing processing technology options for essential materials used in lithium-ion batteries, rare earth magnets, and solar photovoltaics.
Max Temminghoff, Minerals lead at CSIRO Futures, highlighted the report’s optimistic outlook and its potential to contribute to Australia’s development beyond mining and shipping to higher-value processing and manufacturing using critical minerals.
He emphasised the importance of innovation and collaboration in improving existing commercial processes and introducing disruptive technologies to support cost-competitive and sustainable production.
Lucy O’Connor, Manager of the Australian Critical Minerals Research and Development Hub, stressed the pivotal role of R&D in realising Australia’s potential in critical mineral processing and establishing ESG standards that set Australian industry apart.
The report, funded by the Critical Minerals Office in the Department of Industry, Science and Resources, will inform the Australian Critical Minerals Research and Development Hub, a $50.5 million initiative bringing together leading science agencies ANSTO, CSIRO, and Geoscience Australia.
