The Minerals Research Institute of Western Australia estimates that tailings worldwide hold over US$3.4 trillion worth of precious metals.
As the demand for critical minerals rises, tailings present an opportunity to meet these needs, especially considering the World Bank‘s forecast of a fivefold increase in mineral production by 2050 to support renewable energy projects. With traditional sources running low and new deposits becoming harder to access, the focus is turning to these resources from past mining operations.
Australia has proactively addressed this opportunity by launching an atlas of Australian mine waste, identifying more than 1,050 sites with potential stores of critical minerals.
Federal Resources Minister Madaleine King said “Some of the minerals we need now, and into the future, may not just be in the ground – they’re also in rock piles and tailings on mine sites around the country.” Minister King views this initiative as a chance to rejuvenate old mining communities, generate employment opportunities, and fulfill the growing demand for critical materials in a sustainable manner.
Dr. Dave Lawie, Chief Geoscientist at mining technology company IMDEX, emphasized, “You could probably bring these mines back with much less local community and environmental impact and much better ESG credentials.” “But if you want to make a case to re-open them in some way it’s very difficult to make an economic case unless you know what’s in them, and that’s the role of technology,” said Lawie.
