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Australian critical minerals projects in the global spotlight

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The Australian Government has launched a new digital Critical Minerals Prospectus, showcasing more than 55 investment-ready projects to potential investors and buyers from around the world. The digital Prospectus features an interactive online map, shining a spotlight on the investment-ready projects across Australia’s critical minerals landscape.

The tool can be customised to navigate Australia’s rich and diverse mineral endowment, and a range of available government support, including potential funding for Australian critical minerals projects. Australia has an abundance of critical minerals needed to build essential components, for things like electric vehicles, solar panels, hydrogen technology and batteries.

The Government is also incentivising investment in critical minerals projects through a range of programs, including the $4 billion Critical Minerals Facility and the recently announced $7 billion Critical Minerals Production Tax Incentive.

The interactive Australian Critical Minerals Prospectus is available here.

Speaking at the launch, the Minister for Trade and Tourism, Don Farrell, highlighted that “Australia is ready and willing to meet the growing global demand for critical minerals, and we welcome international investment in key projects across the country. The new online Prospectus shines a spotlight on over 55 investor-ready projects which will attract the investment we need to build new industries, create more jobs, and become a renewable energy superpower.” The Minister for Resources, Madeleine King, added “Critical minerals are vital for the global efforts to reduce emissions and becoming increasingly important inputs for the defence industry. Australia’s resources industry has been developed with foreign investment, and we need overseas investment to build our critical minerals industry”

Madeleine King

Australian Minister for Resources, Madeleine King, in Europe

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Australian Minister for Resources and Northern Australia, Madeleine King, is currently in Europe to promote Australia as a reliable supplier of critical minerals to support global efforts to reach net-zero.  Minister King will hold bilateral talks with ministerial counterparts from Germany, the EU, France and the UK, and will participate in the inaugural International Energy Agency (IEA) Critical Minerals and Clean Energy Summit on September 28 in Paris.

Talks will involve industry representatives from across Europe and the UK, including Europe’s automotive industry, which will need more critical minerals to manufacture electric vehicles.

“Australia has the critical minerals the world needs to help lower emissions, and we have well-established export supply chains built over decades through our iron ore and gas industries,” Minister King said.

“Australia’s resources sector also has high environmental and social governance standards (ESG), and a global reputation as a stable and reliable export partner.

“I released Australia’s new Critical Minerals Strategy in June, which lays out Australia’s support for the industry and our plan to become a globally significant supplier of critical minerals by 2030.”

The visit to Europe and the UK will be a chance to outline how Australia is working with the sector and cooperating with international partners to diversify global supply chains and support investment in the mining and processing of key critical minerals.

“The world’s clean energy transition will ride on the back of Australia’s critical minerals,” Minister King said.

“Critical minerals are crucial components of clean energy technologies such as batteries for electric vehicles and energy storage, as well as for wind farms and solar panels.”

Australia is the world’s leading producer of unprocessed lithium, the world’s third-largest cobalt exporter and the fourth-largest exporter of rare earths. Australia is also the fourth-largest exporter of mined copper and nickel and a significant producer of aluminium.

Mining Excavator

Australian Resources Minister welcomes “like-minded” foreign investors for Critical Minerals Projects

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ExcavatorSpeaking in Darwin, Madeleine King, Australia’s Resources Minister, has reportedly said that Australia will be welcoming “like-minded” investors to invest in critical minerals projects, according to the Australian Financial Review.

The report continues that Minister King did not flag any ban on Chinese investment into the industry, but as the AFR continues, Australian Treasurer, Jim Chalmers, has already indicated that the country would be more assertive in ensuring that investment from abroad into critical minerals projects would be aligned with Australia’s national interest. He has already acted by preventing a major supplier of minerals from China from taking a bigger stake in one company.

At the German Australian Business Council, we are monitoring these developments closely. The recent visit by a German delegation to Australia and the forthcoming European Critical Raw Materials Act will provide an excellent opportunity to deepen relations between our countries.