EXPLORER Pursuit Minerals speculates there could be increased demand from zinc because of a new type of battery.
The company is developing two zinc deposits in the North West Minerals Province which are located close to Century Mine.
Its managing director Jeremy Read said that zinc-bromine batteries could replace lithium-ion batteries because they were longer lasting. The materials were more accessible. However, the technology was new.
It meant that zinc-bromine deposits were worth investing in.
Mr Read said the University of Sydney’s Gelion aimed to commercialise zinc-bromine gel batteries which could be used instead of lithium-ion for batteries in phones.
“Demand for both traditional and new uses for zinc is currently outstripping a weak supply pipeline,” he said.
“This is driving up global prices, making zinc a really attractive prospect, now and in the medium term.
“With confirmed mineralisation and nearby infrastructure, our projects could really deliver a boost to the Queensland economy, create jobs in the Mt Isa region, and supply an important commodity for the power storage the world needs.”
Zinc was increasingly being used for other technologies.
“What we are seeing in the base minerals space is new ways of incorporating base metals into the tech economy,” Mr Read said.
“Going are the days where zinc is just used to galvanise steel.”
Pursuit Minerals owns deposit Bluebush, which is 75 kilometres north east of the Century Mine, which was under rehabilitation.
Pursuit considers Bluebush to be in the largest zone of zinc mineralisation in the world.
It also owns the Paperbark deposit, which is 25 kilometres south east of Century and could also supply zinc, lead and a “significant copper deposit”.
“We are getting into zinc because it’s one of the best performing base metals at the moment, and Queensland has some of the most promising zinc deposits in Australia,” Mr Read said.