About Critical Minerals
Critical minerals, also known as strategic or essential minerals, refer to a group of raw materials that are crucial for modern technological advancements, economic growth, and national security but are also subject to supply chain vulnerabilities and geopolitical concerns. These minerals encompass a wide range of elements and compounds essential for various industries, including electronics, renewable energy, defense, and healthcare. They are characterized by their scarcity, high economic importance, and irreplaceable role in the production of cutting-edge technologies. Critical minerals often include rare earth elements, lithium, cobalt, and other minerals vital for manufacturing batteries, semiconductors, and advanced materials. The strategic significance of these minerals lies in their indispensability for sustaining and driving global innovation and industrial activities.
Where to Find Rare Earth Oxide and Valuable Heavy Mineral Sand Deposits
Australia has significant deposits of heavy mineral placers, particularly in New South Wales, but also along the coastlines of Western Australia and Queensland. These deposits contain valuable heavy minerals (VHM) rare earth element (REE) minerals such as ilmenite, rutile, anatase, leucoxene, zircon, monazite and xenotime.
India is known for its heavy mineral placer deposits found in the coastal states of Odisha, Andhra Pradesh, Tamil Nadu and Kerala. These deposits contain minerals such as ilmenite, rutile, zircon, garnet and sillimanite.
South Africa is known for its deposits of heavy mineral sands along its eastern and western coastlines, especially in KwaZulu-Natal. Deposits in South Africa contain minerals such as rutile, ilmenite, zircon and garnet.
The United States has heavy mineral placer resources in various locations. For example, the southeastern states, such as Florida and Georgia, are known for titanium minerals and zircon deposits. Additionally, the coastal areas of Oregon and California have deposits of minerals like gold, platinum, and chromite.
Brazil has heavy mineral sand resources, mainly distributed in Rio de Janeiro, Espirito Santo and Bahia states. The deposits contain minerals such as ilmenite, rutile, zircon and monazite.
China is a major producer of heavy minerals and has placer deposits. The Hainan, Guangdong, and Fujian provinces are notable for their mineral sand deposits containing ilmenite, rutile, zircon, monazite and REEs.
Critical Minerals for the Global Energy Transition
Critical minerals are foundational elements that underpin the advancement of renewable energy technologies, playing a pivotal role in steering the world toward a greener and more sustainable future. As highlighted by the International Energy Agency (IEA), the demand for minerals essential in clean energy technologies is set to witness substantial growth. In the envisioned policy scenario by 2040, this demand is predicted to double, while in the sustainable development scenario, it is expected to quadruple.
These minerals form the backbone of various innovations in the renewable energy sector, facilitating the production of components for solar panels, wind turbines, electric vehicles, and energy storage systems.
Estimates from the Department of Energy (DOE) in 2023 indicate a considerable market value for critical minerals and rare earth elements, approximating between $US8 billion to $US10 billion ($12.4 billion to $15.5 billion). This escalating demand signifies the increasing significance of these minerals in the global transition towards sustainable energy solutions. Their scarcity and importance underscore the critical need to develop responsible and sustainable practices for their extraction and utilization.
Some of Our Minerals
Analog data, historical drilling reports and other offset data demonstrate strong signs that MBCM tenure area contains deposits of various critical minerals and elements including;
•Monazite and xenotime, significant REO 'anhydrous phosphates' minerals, provide rare earth elements, including cerium, lanthanum, neodymium, and praseodymium
•Xenotime a source of yttrium and heavy lanthanide metals, including dysprosium, ytterbium, erbium, and gadolinium.
•Ilmenite, leucoxene, anatase, and rutile, rich in titanium dioxide used in producing white pigment paint, plastic, and paper. Rutile also serves as a source for titanium sponge metal used in aerospace, medical, and industrial applications.
•Zircon a valuable source of zirconium, employed in industrial chemicals, ceramic glaze, and refractory materials for steel production.
These REOs are vital in energy generation, electronics manufacturing, battery production, medical devices, electric vehicle motors, and various metallurgical applications.
Rare earth production is also transformed into metals and alloys, playing crucial roles in applications such as neodymium metal for Nd-Fe-B permanent magnets, samarium metal for Sm-Co permanent magnets, and various elements like lanthanum, cerium, praseodymium, and neodymium for rechargeable battery electrodes.
