Gippsland Critical Minerals’ Fingerboards Project is no ordinary project. It would provide access to a unique and globally significant deposit of critical minerals and rare earth elements.
These mineral elements are the foundation for today’s technology-led economy and are part of our everyday life. For example, they enable renewable energy generation to power our homes, and make electric vehicles a reality. They support the way we work, live and communicate using computers and smartphones. They help provide better health outcomes through advanced medical devices such as MRI machines.
Only in East Gippsland
The Fingerboards Project has the potential to produce around 7% of the world’s supply of heavy rare earths.
Global demand for critical minerals is surging due to the clean energy transition and our technology-led economy. Unlocking the Fingerboards opportunity represents a significant opportunity to contribute to both Australia’s and Victoria’s strategic goals for the critical minerals sector and to benefit the East Gippsland community.
Victoria, with its significant mineral sands deposits, including Fingerboards, can make an important contribution to Australia’s critical minerals potential.
What’s under our feet?
The Fingerboards deposit contains a unique mix of critical minerals.
Zirconium. A versatile metal with corrosion resistance, high melting point, and exceptional strength used in ceramics, dental products such as implants and crowns, aircraft and defence components, electronics and specialist paints and varnishes.
Rare Earth Elements. Examples include Neodymium and Praseodymium, used to build the magnets used in electric motors, hard drives, and magnetic resonance imaging (MRI) machines.
Dysprosium and Terbium are used to ensure magnets are effective at high temperatures and in data storage devices. Ilmenite, Rutile, Leucoxene. These are important minerals used in the production of pigments and titanium metal which is known for its strength and lightweight properties.
National significance
At present, China is estimated to supply more than 60% of the world’s critical minerals and rare earths, which means securing our supply of these minerals is strategically important for Australia’s future. GCM is Australian and UK-owned, positioning it strongly as a reliable supplier for Australia’s future critical minerals needs.
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