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Old 05-24-2023, 04:08 AM
Sparty Sparty is offline
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Default "Australia’s latest rare earth mines"

[Expansion and independence: Australia’s latest rare earth mines:

Could a new wave of rare earth mines and project expansions build an independent rare earths industry for Australia? JP Casey.

Summary:Australia is a major producer of rare earths, with production increasing significantly in recent years. In 2021, Australia produced 19,958 tonnes of rare earths, up from 1,995 tonnes in 2011. This increase is due to the development of new mines, such as the Mount Weld mine in Western Australia, which began production in 2011. The Mount Weld mine is the largest rare earth mine in Australia and has the potential to produce up to 100,000 tonnes of rare earths per year. Other major rare earth mines in Australia include the Nolans Bore mine in South Australia and the Lynas Mount Isa project in Queensland.

The Australian government is supportive of the development of the rare earths industry and has provided funding for exploration and development projects. Australia is well-positioned to become a major supplier of rare earths to the global market.

Rare earths are a group of 17 elements that are essential for a wide range of technologies, including electric vehicles, wind turbines, and smartphones. China is the world's largest producer of rare earths, but it has been accused of using its market dominance to restrict supply and manipulate prices. This has led to concerns about the security of the global supply of rare earths.

Australia's growing production of rare earths is seen as a way to reduce reliance on China. The Australian government has set a goal of becoming the world's leading producer of rare earths by 2025.

The development of the rare earths industry in Australia is not without its challenges. One challenge is the environmental impact of mining. Rare earth mining can produce significant amounts of waste, which can pollute water and soil. Another challenge is the high cost of production. Rare earths are relatively rare and difficult to extract, which drives up the cost of production.

Despite these challenges, the Australian rare earths industry is poised for growth. The government's support, the availability of resources, and the growing demand for rare earths all point to a bright future for the industry.

In addition to the Mount Weld mine, Nolans Bore mine, and Lynas Mount Isa project, there are a number of other rare earth projects in Australia that are in various stages of development. These include the Greenbushes project in Western Australia, the Dubbo project in New South Wales, and the Mt Gordon project in Queensland.

The development of these projects has the potential to significantly increase Australia's production of rare earths. This would make Australia a major player in the global rare earths market and help to reduce reliance on China. Read full article
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