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Australia to start the production of rare earth metals on its territory

29 July 2013
Australia to start the production of rare earth metals on its territory

Gary gray, occupying

the post of the Minister of natural resources and energy of Australia, believes that

the mining industry in his country needs to help the world

high-tech industries and to satisfy their need for

rare earth metals and other strategic resources. The politician is sure

Australia has the necessary capability.

«British Geological

Survey» (British geological survey) klassificeret rare earth metals

as critical elements for the United States Department of energy and

the economies of the countries of the European Union. And from the depths of the continent of

statistics «Geoscience Australia» (government of the Federal

the Australian Agency for Geology) — can be mined at least five

elements that are the most important resources that are in demand in these States

and such countries as South Korea and Japan. In addition, for the economy last

of the powers in this list, it is extremely important to fully ensure the

manganese, South Korea and Australia — gallium. In addition,

Australian producers need tungsten, cobalt, India and metals

platinum group, which can provide their local mines.

The report Gary gray

States that since his country has all opportunities to meet

global demand for critical commodities, it must make them

the exploration, extraction and processing of its primary strategic objective.

In addition, the Minister

natural resources and energy considers that the primary aim of the exploration of new

deposits of Nickel, chromium and platinum group metals. In his opinion,

the world demand only for PGMs is estimated at 6 billion.

dollars and growing (in view of the fact that these elements are used in

the automotive industry, in particular, in the manufacture of electric cars). And

after all, Australia still does not export data the components that

is a serious omission.

Market analysts

note that the demand for certain light rare earth metals (for example,

europium and neodymium) and heavy rare earths (e.g., yttrium, terbium,

dysprosium) will greatly exceed the supply at least until 2020. It

therefore, countries such as Japan and Russia, are already starting active development of their

the exploration and subsequent production.

Australia has

plenty of opportunities to fight the monopoly of China (its share is about 95% in 2011

year and around 86% in 2012) extraction and processing, as well as the delivery on

world markets for rare earth metals. And the government — according to representatives of the

the Ministry of natural resources should pursue these opportunities

in the near future.

26 July 2013
30 July 2013