Following the release of the Critical Minerals Strategy in July 2023, the Australian Government is currently consulting with industry experts and other stakeholders to update Australia’s Critical Minerals List.
The Critical Minerals List outlines minerals that are essential to our modern technologies, economies and national security, and whose supply chains are vulnerable to disruption.
The new Critical Minerals Strategy aims to establish the nation as a global supplier of raw and processed critical minerals by 2030.
Minister for Resources and Northern Australia Madeleine King believes that the path to net zero runs through Australia’s resources sector.
King stated that updating the Critical Minerals List helps the government to support the development of the industry and allows Australia to work with international partners to build stronger global supply chains.
“Reviewing and updating our Critical Minerals List will help Australia capitalise on our amazing potential to create new industries and new jobs around our rich geological endowment and build on our record as a stable and reliable resources and energy exporter.
“Building a strong and reliable critical minerals sector will help Australia and the world achieve net zero emissions, while creating thousands of new jobs and supporting economic growth for decades to come,” said King.
The Critical Minerals List will be updated by the end of 2023 and the Australian Government will prioritise support for critical minerals projects that underpin priority technologies and contribute to the vision and objectives as according to the Critical Minerals Strategy.
Australia is currently the world’s largest producer of lithium, the third largest producer of cobalt and fourth largest producer of rare earths.
The country also produces significant amounts of metals such as nickel and copper, which combined with critical minerals, are crucial for low-emissions technology.
All information regarding the paper as well as how to lodge a submission is available at the Department of Industry, Science and Resources consultation hub — submissions close 17 August 2023.
The latest update of the list included 26 minerals.
