A brand new Queensland startup has made a breakthrough copper recovery technology that promises to cut costs and boost supply from previously discarded ore.
Banksia Minerals Processing—a University of Queensland spin-out—uses ultra-low chemical and energy inputs to enable economic copper recovery regardless of grade or impurities. The electrochemical process aims to slash costs and unlock millions of tonnes of copper in overlooked low-grade resources.
According to Banksia, these reserves, which make up more than 50% of the total copper remaining worldwide, have been uneconomical so far using conventional smelting and heap leaching. The new process is a cleaner, more efficient method for processing copper concentrate.
The startup has just attracted $1.05M in venture capital backing from the Australian arm of British venture capital outfit IP Group, as well as grant funding from the federal government’s resources and critical minerals Trailblazer commercialisation hub.
“We’re looking forward to revolutionising Australia and global copper production with a transformative technology, a world-class team and highly supportive investors,” Banksia’s managing director and former Rio Tinto executive, Leigh Staines, said.
“As high-quality copper ores deplete, miners face mounting challenges in maintaining production from lower-grade, deeper, and more complex deposits.”
“The industry simply cannot keep up with new demand coming from the energy transition without advances in technology like ours.”
Banksia Minerals Processing: https://banksiaminerals.com/
