India's listing in June of 30 minerals critical to its growth and security comes after similar efforts by Australia, Canada, the US, and the EU. In a surprising move, Brussels even included mining in its "green investment rulebook," a development perhaps unimaginable just a year ago.
These countries have previously followed similar paths, outsourcing mineral processing, often to nations with lower labour and operational costs. Unfortunately, they failed to allocate sufficient funds for research and development initiatives aimed at advancing mineral processing techniques and technologies, often due to political expediency and cost considerations.
All eyes are now on the escalating China-Russia alliance and its impact on various industries, ranging from microchips to wind turbines. The challenge of reducing reliance on China's dominance is daunting and ever-expanding. China's recent implementation of export controls on gallium and germanium, widely used in semiconductors, 5G infrastructure, and solar panels, is likely a mere warning shot.
Transition hard-landing
Yet despite where mining press headlines flow, the crux of the matter lies in processing, not extraction. China currently controls 80% of global gallium and germanium processing, a trend that holds true for most "critical minerals," including rare earths.
Weaning the West off its dependence on China's processing prowess is especially challenging given the current context of the green transition. Confidence in global targets such as the Paris Accords has eroded due to factors like inflation, potential food shortages, and a backlash against globalisation.
The time has come for governments to double down on creating mineral processing capacity within Western countries. If pursued with a green ethos, this endeavour presents an opportunity to support visionary innovators who can completely redefine mining's business models. Embracing sustainability in mineral processing is not just a moral imperative; it also positions us as leaders in building a sustainable future.
The significance of mineral processing cannot be overstated. While mining often captures the spotlight, it is the processing stage that unlocks the true economic benefits and transforms raw materials into valuable products. Unfortunately, this critical aspect has been neglected, leading to a heavy reliance on foreign processing capabilities.
As major powers awaken to the importance of minerals, it is crucial to invest in domestic processing capacity, prioritise R&D efforts, and embrace a green approach. By doing so, we can reduce dependence, enhance national security, and pave the way for a resilient and sustainable mining industry.
Read more about the current state of mineral processing in this month's print edition.
PROCESSING
Ed's note: It's the processing, stupid
Mining has reached a critical juncture as major powers, for the first time in decades, begin to recognise the significance of minerals for their economies and national security. But is this realisation too little, too late?
Mineral processing isn't glamorous, and that's OK
India's listing in June of 30 minerals critical to its growth and security comes after similar efforts by Australia, Canada, the US, and the EU. In a surprising move, Brussels even included mining in its "green investment rulebook," a development perhaps unimaginable just a year ago.
These countries have previously followed similar paths, outsourcing mineral processing, often to nations with lower labour and operational costs. Unfortunately, they failed to allocate sufficient funds for research and development initiatives aimed at advancing mineral processing techniques and technologies, often due to political expediency and cost considerations.
All eyes are now on the escalating China-Russia alliance and its impact on various industries, ranging from microchips to wind turbines. The challenge of reducing reliance on China's dominance is daunting and ever-expanding. China's recent implementation of export controls on gallium and germanium, widely used in semiconductors, 5G infrastructure, and solar panels, is likely a mere warning shot.
Transition hard-landing
Yet despite where mining press headlines flow, the crux of the matter lies in processing, not extraction. China currently controls 80% of global gallium and germanium processing, a trend that holds true for most "critical minerals," including rare earths.
Weaning the West off its dependence on China's processing prowess is especially challenging given the current context of the green transition. Confidence in global targets such as the Paris Accords has eroded due to factors like inflation, potential food shortages, and a backlash against globalisation.
The time has come for governments to double down on creating mineral processing capacity within Western countries. If pursued with a green ethos, this endeavour presents an opportunity to support visionary innovators who can completely redefine mining's business models. Embracing sustainability in mineral processing is not just a moral imperative; it also positions us as leaders in building a sustainable future.
The significance of mineral processing cannot be overstated. While mining often captures the spotlight, it is the processing stage that unlocks the true economic benefits and transforms raw materials into valuable products. Unfortunately, this critical aspect has been neglected, leading to a heavy reliance on foreign processing capabilities.
As major powers awaken to the importance of minerals, it is crucial to invest in domestic processing capacity, prioritise R&D efforts, and embrace a green approach. By doing so, we can reduce dependence, enhance national security, and pave the way for a resilient and sustainable mining industry.
Read more about the current state of mineral processing in this month's print edition.
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