Professor James Vaughan and Banksia Managing Director Leigh Staines.
Inaccessible supplies of an element crucial to powering a clean-energy future are set to be unlocked with technology developed by The University of Queensland.
The technology, commercialised through new start-up company Banksia Minerals Processing (BMP), is a more energy-efficient and environmentally friendly way to extract copper from previously unviable low-quality resources.
UQ’s School of Chemical Engineering Metallurgy Major Lead and Head of the Hydrometallurgy Research Group, Associate Professor James Vaughan said the technology revealed cleaner more efficient methods for processing copper concentrate.
“While much of the world is going wireless, large amounts of copper are still needed to run everything from smartphones to electric vehicles,” Dr Vaughan said.
“Copper plays a key role in achieving global ambitions towards clean energy transition and electrification, however current supply is forecasted to outstrip demand.
“Up to three quarters of the world’s known resources of copper are commercially unviable, but our technology seeks to address this.”
The creation of Banksia was brokered by UQ’s commercialisation company UniQuest, and has investor backing from venture capital firm IP Group and grant funding through the federal government’s Resources Technology and Critical Minerals Trailblazer program.
Banksia Managing Director Leigh Staines said the investment from IP Group would support the technology’s first phase of development, including determining its optimum operating parameters, engineering design and efficiency, compared with existing copper smelting processes.
“The new copper refining process provides two key benefits relevant to the energy transition by decarbonising copper production and enabling cost-efficient local manufacturing” Ms Staines said.
“In addition to being an exciting opportunity for the copper sector, this project is a celebration of UQ ingenuity and teamwork,” she said.
IP Group Investment Manager Shane Meaney said operators around the world were looking for solutions to accessing copper reserves.
“Improving access to copper production is of value at a global scale, and we’re excited to be a major investor.”
UniQuest CEO Dr Dean Moss said it was thrilling to see UQ help unlock access to previously untapped copper ore resources.
“Maintaining supply for copper production is an essential part of the electrification of our modern world,” Dr Moss said.
“We rely on it for cables, electric vehicles and electric goods like radios and TV,” he said.
The start-up company’s development will be supported by Promech, a Brisbane-based engineering company, led by UQ’s School of Chemical Engineering honorary fellow Dr Michael Wallis.
