Australian tech-metal companies see increase in overseas investment

By D H

There has been a resurgence in overseas investment in the Australian mining industry.

Australian companies that mine tech-metals have seen increased investment. The tech-metals complex is made up of metals and rare earths like lithium, cobalt and neodymium. 

These metals are used in technology platforms such as mobile phones, batteries, and magnets for renewable energy storage.

As ABC reported, CEO of Australian Vanadium Vincent Algar said: "There's groups out there that are starting to earmark themselves as 'green' investors, that are looking at mining stocks in this area."

Rare earth elements like neodymium are used to make batteries for electric cars.

Managing Director of Arafura Resources Gavin Lockyer said: ""A lot of brokers and investors have made money in the last 18 months in the lithium and cobalt battery technology space, and they're looking to continue that."

Source: ABC

 

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