Essential for the the world's renewable energy
Rare earths extracted in mineral sands mining are essential ingredients in the manufacture of wind turbines and electric vehicles.
Global demand for rare earths is increasing as the growth in renewable energy continues to address climate change. If we want to continue clean energy production to address climate change, we need to produce rare earths.
The Fingerboards deposit is rich in the highly valuable rare earths Neodymium, Praseodymium, Dysprosium and Terbium. These rare earths are used in myriad applications, but are essential to high-tech mobile technology, medical applications, permanent magnets used in direct drive turbines in windfarms, and electric motors in electric vehicles.
The Fingerboards Mine is one of the largest Zircon and rare earth development projects in the world. Once in production, the Fingerboards is expected to supply up to 5% of global demand for rare earths, essential for the development of clean energy. The annual production from the Fingerboards Project could supply enough rare earths for the construction of approximately 2.8 million electric vehicles, or wind turbines producing 14GW of power, enough for 4.5 million homes.
Close to home, the Star of the South windfarm project has the potential to power around 1 million homes in southern Victoria with renewable energy and could require a significant quantity of the Fingerboard’s rare earth production if direct drive turbines are used.