Australia is set to become a critical minerals powerhouse by 2030 under the 2022 Critical Minerals Strategy.
Many advanced technologies use critical minerals, including telecommunications, aerospace and battery storage applications. Australia has large reserves of critical minerals like cobalt, lithium, manganese, tungsten and vanadium.
The Critical Minerals Strategy is a plan to:
The Australian Government will do this by:
The 2022 strategy also adds 2 new resources to Australia’s priority list of critical minerals. They are:
The government has also committed $50 million over 3 years to establish the virtual National Critical Minerals Research and Development Centre. The centre will look at ways to unlock new sources of critical minerals and diversify supply chains.