Prime Minster Turnbull recently issued a statement indicating a joint cooperation with the US on rare earths and high performance metals.
The Australia-United States Strategic Partnership on Energy in the Indo-Pacific is intended for Australia and the US to work together on strategic minerals exploration, extraction, processing, and research and development of rare earths and high performance metals.
According to Alkane Resources Managing Director, Nic Earner, there is increasing demand for the metals that are critical for uses in aerospace, renewable energy and electric cars,
“Alkane as a future supplier of these metals is likely to benefit from this new government prioritisation which puts the project directly into the national interest of both countries,” Mr Earner said.
Future production from Alkane’s Dubbo Project and uses of these metals includes:
- Rare earths – for permanent magnets for wind power turbines, electric vehicles and industrial robots, as well as applications in medical imaging and smartphones
- Hafnium – for increasing high temperature resistance, especially in space, aerospace and separate uses in semi-conductors, with Alkane’s resource positioning it as a leading source of supply
- Niobium – a steel strengthening agent, with aerospace applications
- Zirconium – for ceramics, fuel cells, jet turbine coatings and medical and smartphone applications
Establishing the importance of Alkane’s independent positioning is that China currently produces more than 95% of the world’s zirconium chemicals, over 90% of high-value rare earths, with Brazil providing 85% of the world’s niobium.
Funding of the project to date has been assisted by Alkane’s nearby Tomingley Gold Operations, which in 2017 produced revenue of A$117.5m and profit before tax and non-recurring items of A$17.1m.
