Former BHP finance boss Peter Beaven says better technology will play a role in improving productivity but will not alone solve the cost challenge that sends many start-ups overseas and undermines Australia’s ability to add value to its critical minerals.

Speaking for the first time as chairman of Perth battery recycling start-up Renewable Metals, Mr Beaven said companies like his would be tempted to take their disruptive technologies overseas and Australia had to become more competitive if it wanted to rival established manufacturing nations.