Australia and Canada signed the Joint Declaration of Intent on Critical Minerals Collaboration in Toronto, Canada on 1 November.
The declaration will help to promote cooperation and trade in critical minerals value chains. It will also:
- advance projects in the mutual interest of both countries
- encourage commercial partnerships and research development
- address policy challenges each country faces.
Canada, like Australia, holds some of the world’s most significant critical minerals and rare earths reserves. Australia and Canada both produce these minerals to high standards. We will work to make sure emerging standards-based markets capture these shared challenges.
Critical minerals have a range of industry applications, from defence to clean energy.
This agreement will allow both countries to support innovation and economic growth as part of our strategic directions.