@leggy, I think Joe Kadevarek's reference to a 'precursor industry' relates to the production of CAM - Cathode Active Materials - for local battery manufacture.
I believe Joe is talking to key precursor ingredient players such as $BHP/BHP Nickel West (nickel sulphate), $E25/Element 25 (manganese sulphate), $PLS/Pilbara Minerals (lithium hydroxide) and to CSIRO.
As for risks, one that is often overlooked relates to skilled labor.
Joe recently remarked that the challenge of recruiting 400 personnel for the Broken Hill mining/refinery operation "keeps me up at night".
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@leggy, I think Joe Kadevarek's reference to a 'precursor...
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