Australian Government developing a new critical minerals strategy

Australian Government developing a new critical minerals strategy

The strategy will outline priorities for how Australia can create economic opportunities across the nation and seize the opportunities of the net zero transformation.

Blue View

Earlier this month, Australia’s Department of Industry. Science and Resources confirmed that the government is developing a new critical minerals strategy to help Australia add value to its resources; grow its domestic downstream processing and manufacturing industries; and support decarbonisation.

The strategy will complement other government priorities including the A$15Bn National Reconstruction Fund (NRF); Powering Australia (including the National Electric Vehicle Strategy and Australia’s emissions reduction target); and the Australia Made Battery Plan.

As part of the process, a discussion paper was released which marks the launch of a consultation on the new strategy, which will be developed with input from industry and community stakeholders, including traditional owners.  The consultation process closes on 3rd February 2023. 

The paper discusses the role of critical minerals in supporting clean energy technologies and considers how Australia might capture global clean energy opportunities by expanding the critical minerals sector into downstream processing.

The Australian Government intends to grow Australia into a critical materials powerhouse. Its last Critical Minerals Strategy aimed to grow its critical materials sector considerably, and importantly expand downstream processing. The country enjoys plentiful and diverse resources and is an established mining giant but needs to develop a cost-competitive domestic processing sector that meets environmental, social and governance standards to capture more value from its geological abundance. 

  • 13 Dec 2022
  • Australia

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