The Australian government is keen to challenge China’s position in the supply of key minerals; pictured here is a rare earth mine.
The hope is that by improving processing and manufacturing, it can compete with mainland China in the supply of key products for the clean energy transition and in the supply chain of minerals.
Australia is the largest exporter of lithium metal, a key material for batteries, and one of the major sources of global supply of rare earths.
Prime Minister Morrison said it is Australia’s sovereign and strategic priority to ensure that Australia is well connected to supply chains around the world, which must be supply chains that Australia and partners can rely on as rare earths and key minerals bring together technologies that will be relied upon in the future.
Initiative measures include assisting businesses to exploit the country’s abundant natural resources, exploring business opportunities in the global process of carbon reduction, encouraging the expansion of high-value products such as batteries and solar power production, as well as technologies and equipment that make mining safer and more efficient.
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