PERTH (miningweekly.com) – Australia is poised to take advantage of global mineral sands demand, the Minerals Council of Australia (MCA) said on Wednesday, pointing out that Australia hosted the world’s largest mineral sands deposits and was home to a number of active mineral sands companies.
The MCA noted in a new report that Australia held 32% of the world’s share of ilmenite resources and 62% of its rutile resources, and was one of the only producers of rare earth elements such as neodymium and praseodymium.
MCA CEO Tania Constable noted that Australia was also an important supplier of minerals critical to driving smaller, faster and more powerful technologies.
“Smaller quantities of rare earth elements are also produced through mineral sands used in wind turbine magnets, and in medical, manufactured and electronic products such as fibre optics, rechargeable batteries and hybrid cars.
“As the world moves to a lower carbon economy, demand for these inputs is growing and offers Australia the opportunity to be a part of green technology supply chains.”
Constable noted that Western Australia, New South Wales, South Australia and Queensland supply mineral sands around the world, while the Murray basin, which covers parts of Victoria, New South Wales and South Australia, has globally significant resources of zircon and titanium minerals.
Victoria has 39% of Australia’s zircon resources and has the potential to be a global supplier of high-grade zircon mineral sands.
Mineral sands deposits are also found in the Eucla basin in South Australia and Western Australia. Other states have the opportunity to develop mineral sands mines with deposits identified in Tasmania, Queensland and the Northern Territory.
As the world transitions to a lower carbon economy, demand for rare-earth elements is growing because these minerals are also used in the production of hybrid cars, electric vehicles and wind turbines.
“Australia’s mineral sands industry is already a world leader in sustainability and mine site rehabilitation. Approximately 97% of the mined material is progressively returned and the landform restored throughout the life of a mineral sands mine,” Constable said.
“In 2020 and beyond, the mineral sands industry offers significant opportunities for the economic growth and diversification of regional communities across Australia.”