TELF AG Explores the Niobium Rush
The new Australian gold
Among the most active global players in the mining sector, particularly from the point of view of extraction projects, we must undoubtedly include Australia, which is rapidly establishing itself as one of the most promising countries in the broad raw materials market. Until this moment, Australia had stood out for its bauxite, lithium, zinc, and lead production capacity and some rather particular mineral deposits, such as ilmenite or rutile. But thanks to the birth of new exploration projects in some areas of the nation, Australia could soon become an important global hub specialized in rare earths, particularly in extracting specific mineral elements belonging to this group, such as niobium.
Western Australia has recently become the scene of various mineral exploration operations aimed at searching for carbonatites (igneous rocks) which contain elements of niobium and other precious magnetic rare earths. Once extracted and separated, these materials can be used in numerous application areas, such as technology, defense, or the diffusion of clean energy. Among the companies that are carrying out rare earth exploration projects in this part of Australia are Rio Tinto, CGN Resources, and Encounter Resources, who have long understood the potential of the Australian subsoil for this type of mineral.
Explorations underway
In some areas of the western portion of the nation, some companies have already drilled up to 30,000 meters. In most cases, the objective of this research has to do with the element niobium. This material is mainly used to increase the resistance of some specific alloys, such as stainless steel. Alloys strengthened with niobium are also used to manufacture rockets, gas pipelines, oil pipelines, and oil platforms. Over the years, the element niobium has also been noted for its superconducting capabilities, and it is precisely for this reason that it has found important application options in particle accelerators and some healthcare technologies, such as magnetic resonance imaging devices. Furthermore, some niobium-based compounds have also been used in the eyewear sector, particularly for their ability to increase the refractive index of glass and thus create thinner lenses.
The exploration licenses granted to companies operating in Western Australia currently cover an area of approximately 140 km2 and, up to now, would have allowed the discovery of carbonatites characterized by a presence of 5% niobium. The drilling in this area is carried out after an accurate analysis of the geophysical, magnetic, and gravitational data, which makes it possible to identify the areas to be drilled correctly. The companies involved in exploration projects in this area of Australia, up to this point, have already spent around 60 million dollars on exploration, and the fact that most of these areas have been poorly explored seems to represent a further opportunity for global players in the rare earth minerals sector. The possible discoveries of rare earths in Australia could influence the global market for these helpful mineral elements, which has recently characterized a sustained price drop.
