Critical minerals are metallic or non-metallic elements that are essential for modern technologies and low-emission applications, but their supply chains are at risk of disruption, which could have severe consequences for various industries. To mitigate these risks, it is crucial to understand the characteristics of critical minerals, the industries that rely on them, and the associated risks.
Redox’s role in the critical mineral supply chain
Redox offers a diverse collection of chemicals and reagents utilized in the mining, processing, and refining of various minerals such as Lithium, Vanadium, and Rare Earth elements. We have partnered with renowned suppliers such as Kraton, whose Tall Oil Fatty Acid ‘Sylfat’ is considered the leading product in mineral separation. Our mining clients enjoy our broad range of products, along with our top-tier warehouse and distribution network, extensive market expertise, and unparalleled customer service.
What is a critical mineral?
Critical minerals are an essential component of our modern technologies, economies, and national security. They are used to manufacture a wide range of advanced technologies, including low-emission applications like electric vehicles, wind turbines, and solar panels, as well as everyday items like stainless steel and electronics.
Although there is a risk that critical mineral supply chains could be disrupted, it is important to remain positive and proactive in addressing potential challenges. By diversifying supply chains, investing in market development, and promoting sustainable mining practices, Australia can mitigate risks and ensure a stable supply of critical minerals for years.
An Overview of these Minerals
Each country develops its list of critical minerals based on the importance of specific minerals to their industries and evaluating supply risks. However, assessments of mineral criticality are influenced by market and political conditions at a particular time and are subject to change.
The Australian Government has identified 26 critical minerals by evaluating Australia’s geological potential and global technology needs, especially those of partner countries. The list of Australia’s vital minerals can be found in the 2022 Critical Mineral Strategy.
Australia’s critical minerals sector is expanding to meet the increasing global demand for these strategic minerals. Australia is a top producer of several critical minerals, including lithium, rare earth, and zircon. The country is also discovering and developing more deposits of these minerals, as shown in the Australian Critical Minerals Map.
Australia’s resources industry has expanded exploration and resource definition in response to the rising demand for critical minerals. Economic inventories of several critical minerals increased in Australia in 2021, including platinum group elements, scandium, vanadium, antimony, cobalt, and tantalum.
To conclude, critical minerals play a vital role in our daily lives, and their importance will only continue to grow as we transition towards a low-carbon economy. To ensure a stable supply of these minerals, it is crucial to diversify supply chains, invest in market development, and promote sustainable mining practices.
As a global leader in critical minerals production, Australia has identified 26 critical minerals and is expanding its exploration and resource definition to meet the increasing global demand. By prioritizing the sustainable and responsible production of critical minerals, Australia can ensure their availability for future generations.
