Magnetic rare earths are used in the production of magnets found in mobile phones.
Barn Images/Flickr
The magnetic group of rare earths, used in the production of powerful magnets, will be a driver for the market into the future.
Graphite can be converted into synthetic diamonds used in manufacturing.
Yves Herman/Reuters
Australia needs to move beyond mining graphite and invest in processes that convert it into synthetic diamonds and use it to create carbon fibres.
Lithium is used in Tesla Energy batteries for businesses and utility companies.
Patrick Fallon/ Reuters
If Australia investments in technology to recycle and lease lithium, it could capitalise on its increasing use in batteries.
Haulage truck at the Rio Tinto West Angelas iron ore mine in the Pilbara region of West Australia.
ALAN PORRITT/AAP
Even if the price of iron ore remains low, Australia is still well placed to benefit from this resource in the future.