Government backs new minerals research center with nearly USD 40 million
The Australian government is aiming to expand its role in the global critical minerals market and is investing heavily in research and technology. According to Industry Minister Tim Ayres and Minister for Resources and Northern Australia Madeleine King on Friday, the government is providing the equivalent of around USD 38 million for a new research center. The center, to be established under the name Critical Metals for Critical Industries CRC, will develop new processing and refining methods for strategically important minerals and accelerate their commercial application. “The next chapter in mineral processing requires new technologies, new industrial capabilities, and new partnerships,” Minister Ayres said.
A total of 62 partners from industry, academia, and industry associations will participate in the research center, contributing an additional USD 131 million to the project.
Australia has large deposits of minerals such as Lithium, Vanadium, and Cobalt, which are needed for batteries, renewable energy, defense technologies, and other high-tech applications. With Lynas Rare Earths, the country is also home to one of only two major Western players in the rare earths industry.
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