Australia's Critical Minerals Strategy 2019 (the Strategy) aims to refine Australia's policy settings to enable the resources sector to supply the growing markets for raw and refined critical minerals. It is a key part of the Australian Government's broader plan for Australia's resources sector, set out in the National Resources Statement. The Strategy sets out actions to refine the settings in Australia's critical minerals market in three key areas. In particular, we will:
- promote investment into Australia's critical minerals sector and downstream processing activities
- provide incentives for innovation to lower costs and increase competitiveness
- connect current and pipeline critical minerals projects with infrastructure development.
These steps will help to ensure Australia's critical minerals sector will be ready with a reliable and cost-competitive supply of critical minerals to meet growing global demand.
The Strategy will coordinate efforts at the national level and builds on the policies, incentives, programs and strategies of state and territory governments.
- In January 2019, Western Australia released its Future Battery Industry Strategy to capitalise on the state's battery minerals and potential to develop a local value-adding lithium-ion battery industry.
- In February 2019, New South Wales released its Minerals Strategy focused on growing investment in metals and rare earth elements, particularly at greenfield sites.
- In December 2018, the Australian Government and state and territory governments committed, through the Coalition of Australian Governments (COAG) Energy Council, to develop a joint work program to harness the emerging opportunities of the critical minerals sector, including for downstream industries.