Australia is coordinating efforts to advance the development of the critical minerals industry.
Release time:
2023-04-03
Source:
Global Geological and Mineral Information System
According to MiningWeekly, at a recent critical minerals roundtable held in Perth, resource and mining officials from Australia’s federal, state, and territory governments agreed to coordinate their efforts to support the development of the country’s critical minerals sector.
On Friday, Resources Minister Madeleine King stated that developing the critical minerals sector is a national mission—and one that is absolutely essential if Australia wants to help the world reduce emissions and achieve net-zero targets.
“This is the first roundtable meeting since 2020, and over the past three years, global demand for Australia’s critical minerals has risen sharply,” Madeline said.
Officials unanimously agreed that the country should prioritize the development of the critical minerals sector, which can bring new economic development opportunities—especially for local communities—and help produce the materials needed to reduce emissions in Australia and other countries.
Madeleine stated that Australia boasts abundant reserves of critical minerals, which are essential for net-zero emission technologies such as electric vehicles, wind turbines, battery storage, and solar panels.
“Achieving global net-zero emissions will require Australia’s resources sector and our emerging critical minerals sector,” she added.
The International Energy Agency (IEA) has stated that, to meet global demand for low-emission technologies, the world needs to rapidly build secure and resilient supply chains for critical minerals.
Madeleine stated that the roundtable discussion focused on measures the government is taking to support Australia’s critical minerals sector—such as expediting project approvals while rigorously protecting the environment and local communities.
Officials also discussed the importance of formulating development policies to encourage investment in critical minerals and processing infrastructure, and emphasized the need to further strengthen exploration and the construction of general-purpose infrastructure.
Madeleine stated that such roundtable meetings will be held regularly to promote cooperation, development, and investment in the critical minerals sector.
The Australian government is developing a new critical minerals strategy, which it plans to announce in the second half of this year. Madeline said that the roundtable meeting is an important platform that will ensure the new strategy broadly incorporates expert input as well as the experiences of all states and territories.
Earlier last week, Madeleine revealed that a critical minerals strategy would be announced in the first half of this year.