New research from The Australian National University (ANU) and the University of the Chinese Academy of Sciences has revealed that a mysterious, iron-rich magma entombed within extinct volcanoes could offer a new source of rare earth elements, which are crucial for modern technology. Rare earth elements are essential in the manufacturing of smartphones, flat-screen TVs, magnets, electric vehicles, and renewable energy technologies such as wind turbines. These metals are also used in trains and missile systems. Dr. Michael Anenburg from ANU explained that this type of iron-rich magma, which solidified to form some ancient volcanoes, is up to a hundred times more efficient at concentrating rare earth elements compared to magmas typically found in active volcanoes. Although iron-rich magma has never been observed erupting from active volcanoes, some extinct volcanoes, millions of years old, are believed to have experienced these unique eruptions. This research shows the potential of dormant volcanoes like El Laco in Chile as a new source of rare earth elements. To better understand the mineral composition of these iron-rich volcanic rocks, researchers compared volcanic eruptions in the laboratory.
By placing rocks similar to those found in mysterious volcanoes to high heat and pressure in a furnace, they were able to see the abundance of rare earth elements in the rocks. With the increasing demand for new energy technologies worldwide, the demand for rare earths has increased significantly. This demand will increase fivefold by 2030, due to increased investment in electric vehicles and wind energy. Although rare earth elements are not rare, their extraction from minerals is difficult and expensive, making them a highly sought after resource. Currently, China has the world’s largest reserves of rare earths, with large reserves in Sweden and Australia. Australia, in particular, has large deposits in the Weald Mountains in Western Australia, and near Dubbo and Alice Springs. Dr Annenburg said Australia could become a key player in the world’s clean energy sector by tapping into its vast reserves of rare earth metals. With this new understanding of iron-rich fossil fuels, there may be other discoveries in the future that could lead to new ways to supply the metals needed for clean energy transport.