Dr. Michael Anenburg says the iron-rich magma that solidified to form some extinct volcanoes is up to 100 times more efficient at concentrating rare earth metals than the magmas that commonly erupt from active volcanoes.
Dr. Anenburg,of ANU, said: “We have never seen an iron-rich magma erupt from an active volcano, but we know some extinct volcanoes, which are millions of years old, had this enigmatic type of eruption.
“Our findings suggest that these iron-rich extinct volcanoes across the globe , such as El Laco in Chile, could be studied for the presence of rare earth elements.”
The research team simulated volcanic eruptions in the lab by sourcing rocks similar to those from iron-rich extinct volcanoes .
They put the rocks into a pressurised furnace and heated them to "extremely high" temperatures to melt them and learn more about the minerals inside the rocks.
That is how they discovered the "abundance" of rare earth elements contained in iron-rich volcanic rocks.
With more countries investing heavily in renewable energy technologies, the demand for rare earth elements continues to soar - with demand expected to increase five-fold by 2030.
Dr. Anenburg said: "Rare earth elements aren’t that rare: they are similar in abundance to lead and copper.
"But breaking down and extracting these metals from the minerals they reside in is challenging and expensive,”
China has the largest deposit of rare earth elements on the planet, while Europe's largest deposit of rare earths is in Sweden.
Dr. Anenburg said that Australia has a "world-class" deposit at Mount Weld in Western Australia and others near Dubbo, New South Wales, and Alice Springs, Northern Territory.
He added: "Australia has an opportunity to become a major player in the clean energy space by capitalising on its abundance of rare earth resources."
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