Core Resources Chairman Jon Loraine recently appeared on ABC Radio Queensland to discuss Australia’s emerging role in the global rare earth minerals supply chain.
During the interview, Jon highlighted that while Australia holds significant rare earth resources, our ability to process and refine them into high-value materials is still developing.
“Mining is only part of the story. The real value-add is in refining and processing – and that’s where Australia has work to do,” Jon said.
Key points from the discussion include:
- Rare earths are not especially rare geologically, but their refinement is technically complex. Transforming mined material into usable, high-purity oxides requires advanced metallurgical processes that Australia is still scaling up.
- Australia has promising deposits, with notable developments in both Queensland and Western Australia. These are in various stages of exploration and early production, but most are still dependent on overseas refining.
- China remains dominant in both production and refining, having built this position over several decades. Jon noted that this control is not just economic – it also offers China strategic leverage, with downstream users dependent on its supply.
- Government support in Australia has focused on early-stage project development, with incentives to attract investment. However, long-term success requires investment in downstream infrastructure and mechanisms to drive demand for Australian-refined products.
- Skills in chemical engineering, metallurgy and mineral processing are essential. While Australia has talent in these areas, building a competitive rare earths industry will require growth in specialist expertise and training.
Jon also emphasised the importance of partnering with trading allies – including Japan, Korea, the EU and the US – to build resilient supply chains that reduce global dependency on China.
Listen to the interview
Jon’s interview aired on ABC Radio Queensland and can be accessed here. Timestamp: 2:15:50 – 2:25:12.
