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defence|exploration|health|manufacturing|petrochemicals|projects|resources|supply chain|tourism|water|products|environmental

New Australian push for critical mineral investment

21st October 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – The federal government has launched its second edition of the Australian Critical Minerals Prospectus, showcasing the country’s significant capability in critical minerals in a bid to attract investment.

The prospectus identifies new significant commercial opportunities in hundreds of critical minerals and rare earth element projects across Australia.

Minister for Trade, Tourism and Investment Simon Birmingham said Australia had some of the richest stocks of critical minerals and it was vital every possible step was taken to highlight to overseas investors the enormous potential of this emerging sector.

“Australia is lucky to have an abundance of critical minerals, our next challenge is to attract the necessary overseas investment to get projects up and running, including in high-value activities such as processing and manufacturing,” Birmingham said. 

“In order for Australia to fully take advantage of the growing demand for critical minerals we need to attract more investment along the entire supply chain whether it be exploration, extraction, production and processing.

“This extensive stocktake of hundreds of projects illustrates the immense opportunity Australia presents for investments to not only extract raw critical minerals out of the ground, but to also process critical minerals and manufacture products such as batteries, superalloys, petrochemicals and high-end technological applications.”

Minister for Resources, Water and Northern Australia Keith Pitt said critical minerals are key inputs for an increasing range of high-tech applications, including advanced manufacturing, health technologies and defence and space industries.

“Businesses all over the world are looking to de-risk their supply chains and secure stable sources of critical minerals, and Australia offers a reliable and trusted option,” Pitt said.

“We have technologically advanced, innovative and efficient resources and METS sectors, globally recognised environmental practices, and a government that supports investment.”

"The Prospectus details over 200 potential investments in a wide range of critical minerals including in lithium, where we are already the world’s largest producer, and other minerals including cobalt, manganese, antimony, zirconium, titanium, tantalum, zirconium, tungsten, vanadium and niobium.

Edited by Creamer Media Reporter

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